TfL Business Plan

MQT on 2017-12-14
Session date: 
December 14, 2017
Question By: 
Keith Prince
GLA Conservatives
Asked Of: 
The Mayor


If TfL had an additional £600 million to spend, what difference would it have made to your draft TfL Business Plan?


Answer for TfL Business Plan

Answer for TfL Business Plan

Answered By: 
The Mayor

London has lost £700 million funding every year now the Government has removed our operating grant.

Despite the Government continuing to make anti-London decisions, the good news is we are securing efficiencies to deliver the aims of my Transport Strategy over the next five years.

We are undertaking the largest ever overhaul of TfL's operations since its creation in 2000. The operating costs of running London's transport have decreased by £153 million since I became Mayor, the first such reduction in TfL's history. It has already reduced management layers and has merged functions in other areas to eliminate duplication and reliance on expensive agency staff.  

My Plan includes £2.2 billion on Healthy Streets and Air Quality improvements.

TfL will also deliver its major investment programme that will modernise the Circle, District, Metropolitan and Hammersmith & City lines; bring the Elizabeth line into service; and extend the Northern line, providing much needed new capacity on London's rail network. 

All of this will come at the same time as developing sites for 10,000 new homes on TfL land - 50 per cent affordable.

After a 42% increase in TfL fares under the previous Mayor, I am proud to be making travel more affordable for all Londoners by freezing TfL fares, extending the Hopper fare and protecting all of TfL's travel concessions. The possible loss of fares income from these policies are totally dwarfed by the Government's total lack of funding for people travelling in London.  It is disappointing Conservative Assembly Members have supported cuts to London public transport funding from their friends in Government. 

We are having to take some difficult decisions in the context of this challenging economic picture and a lack of Government support for London. TfL though is committed to making the most of its funding.

I am ambitious for London and there is, of course, always more I would like to do.  With a reasonable level of central government support - which all other transport organisations around the globe do receive - we could do even more, bringing forward some schemes, enhancing others. With an additional £700m for example, which is the amount of funding we have had cut from central Government each year, we could deliver a major station upgrade - such as Victoria, Bank or Tottenham Court Road - each and every year.  This is above the firm funding commitment to Crossrail 2 from the Government which I continue to press for.

Regardless of the challenges, my plans will deliver an easy-to-use, affordable and accessible public transport system. 


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