Transport Committee Chair writes to Mayor & Government on TfL finances

The Transport Committee held an investigation into the ‘state and future of Transport for London’s finances’, at its meeting on 30 June 2021.

The Chair has written to the Department for Transport (DfT) to express the Committee's continuing concern around the absence of any long-term funding solution for Transport for London (TfL).

The Committee is calling on the Government to move promptly now to work with TfL and develop long-term and sustainable mechanisms for revenue generation and capital investment.

This should be fit for a world city and in step with how other capital city transport systems around the world are supported by their respective governments.

The Transport Committee held an investigation into the ‘state and future of Transport for London’s finances’, at its meeting on 30 June 2021.

The Chair has written to the Department for Transport to express the Committee's concerns about the financial situation and called on the Department to work with TfL to develop long-term sustainable mechanisms for revenue generation and capital investment.

This letter to the Mayor requests a schedule of all the transport commitments he has for this Mayoral term, together with associated costs and delivery timescales, and which of them are his immediate priorities.

The Committee would also like to understand if the Mayor thinks it is possible to meet the revenue and savings targets stipulated in the Government’s recent funding deals for TfL, without a significant reduction in quality and capacity.