Transport for London debt downgraded by ratings agency due to “uncertain” financial future May 9, 2022 A MAJOR ratings agency has downgraded Transport for London’s (TfL) debt due to the “uncertainty” of its long-term funding, in a further sign of the financial difficulty the operator finds itself in. Moody’s announced it had downgraded TfL’s long-term debt as a result of weaker economic growth and higher inflation delaying the service’s return to [...]
Transport for London warns of potential bankruptcy as funding crisis deepens February 19, 2022 Transport for London (TfL) may have to declare itself bankrupt if the government does not say whether it will cough up fresh funding in the coming days, the Mayor’s office has said.
Tube money: Govt warns long-term funding proposal for Transport for London is ‘our final offer’ July 28, 2022 Transport Secretary Grant Shapps has warned that the long-term funding proposal made to Transport for London (TfL) is the Government’s “final offer”. The capital’s transport body has been reliant on money from the Government to keep services running during the coronavirus pandemic. The latest short-term funding agreement expires on Thursday. Mr Shapps wrote on Twitter: [...]
Sadiq Khan’s new congestion charge rules will undermine Transport for London December 21, 2021 Not long ago we were told that Londoners were going to have to pay £20 more in council tax a year for the next three years to bail out Transport for London. London’s transport system simply couldn’t function with the current budget it had, forcing the Mayor to take a seemingly painful decision to increase [...]
It’s time to put away the toy trains and thrash out a deal for Transport for London December 17, 2021 The pandemic has brought the country to a standstill more times than once this year. But the UK’s railways have continued to move people and goods across the country during these critical moments. The impact of Covid-19 has been felt acutely in London, where passenger numbers fall every time more restrictions are brought in. The [...]
Editorial: Transport for London needs a funding model fit for a modern capital September 22, 2021 On the tube, mind the gap is supposed to be a cautionary warning for absent-minded tourists. Alas over the course of the pandemic it’s become something rather more serious – a constant, if pithy, reminder of the black hole at the heart of Transport for London’s finances. London is a great global city, but the [...]
Transport for London is ready to herald the return to work June 14, 2021 When the nation entered the first lockdown in March last year, many Londoners put away their Oyster or travel card oblivious to just how long it would be before it would be used next. At the time, Government guidance was – and continues to be – to “work from home where possible”. Buses, trains and [...]
Sadiq Khan confirms TfL budget after £250m cash injection — but ‘difficult decisions’ made December 22, 2023 Transport for London’s (TfL) proposals are now “on track to be financially sustainable”, after the government announced a fresh boost.
Why £250m won’t solve TfL’s funding problems December 19, 2023 Transport for London (TfL) has finally struck a deal with government to address its ongoing financial problems - but is it enough?
Jeremy Hunt urged to use autumn statement to boost ‘vital’ TfL funds November 13, 2023 Jeremy Hunt has been urged to use the autumn statement to boost “vital” capital funding for Transport for London (TfL).