Transport for London announced over the weekend that the Government would extend its funding support until 17 December in light of the ongoing struggle to reach an agreement.
A spokesperson for TfL stated: “There is no UK recovery from the pandemic without a London recovery and there is no London recovery without a properly funded transport network in the capital. We hope the discussions can be successfully concluded soon.”
London’s transport provider announced that discussions with the Department for Transport in relation to the future funding requirements are ongoing and that TfL remains in a position to meet its operational and contractual obligations in the near term, whilst discussions conclude.
On 1 June 2021, TfL announced that an extraordinary funding and financing support package had been agreed between TfL and the DfT to support transport services in London and contribute towards TfL’s forecast revenue loss due to reduced passenger numbers using TfL services as a result of the pandemic.
The package was set to provide support for the period from 29 May 2021 to 11 December 2021.
TfL continues to discuss funding requirements with DfT for the period beyond 11 December 2021 and said it awaits confirmation of that extension and its exact terms.