The Mayor of London, Sadiq Khan, said: “Transport for London is dealing with an unprecedented financial crisis caused by the pandemic. We are now less than a month away from TfL’s emergency funding deal expiring on 11 December. Unless the Government provides the long-term funding needed to maintain our public transport network, there will be no choice but to make significant cuts to services just as demand is growing again.
"This would mean fewer, less frequent and more run-down bus and tube services for Londoners, making it more difficult to travel around the city. It would also mean more road and tunnel closures due to a lack of funding to maintain key transport infrastructure. The widespread disruption and gridlock all these changes would cause would not only unfairly punish millions of Londoners for the impact of the pandemic on TfL's finances, but would put the national economic recovery at risk.
"I support greater transport investment in regions across the country, but levelling up Britain must not come at the expense of levelling down London. There can no London recovery without a properly funded public transport network in the capital, and there can be no national recovery without a London recovery. Our city contributes £36.1bn net to the Treasury each year. TfL contracts contribute around £7bn to the UK economy, and its supply chain supports 43,000 jobs around the country, which could be at risk.
"If the Government fails to work with us to protect London's transport network, the capital and the whole country will pay the price for decades to come.”
Notes to editors
- TfL’s financial crisis is solely due to the pandemic, and Londoners following Government guidance and staying at home. Before the pandemic TfL was becoming ever more efficient, having reduced costs by £1 billion a year compared to 2016, and was on a path to become sustainable in covering the costs of its operations by 2022/3.