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Transport for London: Finance

Question for Department for Transport

UIN 143851, tabled on 21 March 2022

To ask the Secretary of State for Transport, what recent assessment his Department has made of the impact of the absence of a long-term funding deal with TfL on the provision of TfL services to locations outside of Greater London.

Answered on

24 March 2022

The Government recently agreed a fourth extraordinary funding and financing package for Transport for London (TfL) worth around £200m. This takes total funding provided to TfL since the start of the pandemic to close to £5bn and will ensure the continued running of TfL’s network as we recover from the Covid-19 pandemic. The Government’s extraordinary funding settlements recognise the reliance of London’s transport network on fare revenue, and Government’s commitment now and in the future to mitigating loss of fare revenue because of the pandemic.

The Mayor has agreed to carry out a review of demand and service levels in April 2022 to inform future service level requirements and potential changes. Transport in London is devolved, and therefore the Mayor must make decisions on service levels that supports the goal of being financially sustainable by April 2023.

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