Cash spent on Transport for London’s (TfL) network is still half of what pre-pandemic levels were in the new year’s first week back to work, according to new data shared exclusively with City A.M.
However, many commuters are choosing to ignore the government’s work from home guidance, compared to last January when the country was in its third lockdown.
TfL spend in the first work week of 2022 has surged nearly 140 per cent in comparison with the first work week of 2021, according to banking app Snoop.
The findings come as London mayor Sadiq Khan warns of “tens of thousands” of jobs being put at risk, if TfL and the government fail to strike a long-term funding deal.
Beyond jobs, a raft of projects, including the refurbishment of Routemaster buses, are currently under threat due to insufficient government funding post-Covid.
The pandemic has decimated the travel networks cashpot, with revenues collapsing 90 per cent after traveller numbers plummeted.
TfL, which pumps around £7bn into the British economy, has relied on a several short-term funding deals worth more than £4bn to stay afloat since 2020.