How will TfL manage its £6.5bn backlog of capital renewals?
Transport for London (TfL) has estimated that maintaining its assets in a steady condition requires annual renewals investment of around £1.1 billion to £1.2 billion.
However, renewals expenditure averaged just £700 million per year in the five years to 2025-26, contributing to a £6.5 billion capital renewals backlog.
TfL is responsible for the management of:
- 580 km of major roads and all of London’s traffic signals
- Over 1,800 structures, including bridges, tunnels, flyovers and river crossings (e.g., Silvertown, Blackwall and Rotherhithe Tunnels)
- Around 400 km of London Underground track
- 272 London Underground stations
- Over 19,000 bus stops
Tomorrow, the London Assembly Budget and Performance Committee will question TfL and BusinessLDN on how TfL will manage the backlog, and how they will prioritise renewals across the TfL network, to keep London moving.
Guests include:
- Patrick Doig, Chief Finance Officer, TfL
- Claire Mann, Chief Operating Officer, TfL
- Richard Jones, Director of Asset Performance Delivery, TfL
- Ed Richardson, Programme Director, Transport, BusinessLDN
The meeting will take place in the Chamber at City Hall on Wednesday 16 September 2026 at 10am.
Media and members of the public are invited to attend.
The meeting can also be viewed LIVE or later via webcast or YouTube.
Follow us @LondonAssembly.
Notes to editors
- Neil Garratt AM, Chairman of the Budget and Performance Committee, is available for interview.
- Find out more about the work of the Budget and Performance Committee.
- Read the agenda in full.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For more information, please contact Tony Smyth in the Assembly Media Office on 07763 251 727 or [email protected]. For out of hours media enquiries please call 020 7983 4000 and ask for the Assembly duty press officer.