TfL

TfL run most of London’s public transport services, including the London Underground, London Buses, the DLR, London Overground, Elizabeth line, London Trams, London River Services, London Dial-a-Ride, Victoria Coach Station, Santander Cycles and the IFS Cloud Cable Car. TfL manage the city’s red route strategic roads and are responsible for the maintenance, management and operation of more than 6,000 sets of traffic lights across the capital.

The key highlights in the 2026-27 Budget includes:

• Passenger income of £6 billion.
• Government regulated fares will be frozen and TfL fares are assumed to increase by 5.8 per cent in March 2026.
• Operating costs of £9 billion.
• Operating cost savings of £177 million, including improving working practices, optimising procurement and maintaining tight controls on recruitment and overtime.
• Increasing investment in step free schemes, building the Superloop network, continuing the transition to a fully electric bus fleet, funding to boroughs to support Vision Zero and bus priority.
• Capital expenditure of £2.1 billion