Transport for London: Financial Settlement

Baroness Randerson Excerpts

Tuesday 2nd March 2021 Lords Chamber

[Baroness Vere of Norbiton (Con)]

The noble Lord is right that London will play a very important part in the economic future of our nation; in 2018 it made 23% of UK GDP. But while much of the funding for Transport for London comes from passenger revenues, there are other routes by which it gets money; for example, business rates retention, which is a retention which would otherwise have gone to Her Majesty’s Government. So one might assume that there is a broad breadth of sources of funding for TfL, but I agree—the Government want to support London’s recovery and we want to keep the capital moving.

[Baroness Randerson (LD) [V]]

My Lords, train operating companies have received billions of pounds from the start of the pandemic to keep trains running, with minimal requirements in return. Why has Transport for London not been treated with the same generosity, and why are the Government determined to dictate the minute details of the way services are run, which they have not done on railways elsewhere? Surely this could not be political.

[Baroness Vere of Norbiton (Con)]

My Lords, TfL has also received billions of pounds over the Covid pandemic. I am not sure where the noble Baroness is getting her information from about the differential between the conditions that are put on the train operating companies and on TfL. The Government make demands on the train operating companies. We work incredibly closely with them on, for example, what the level of services should be and whether engineering works should take place. We put significant conditions on our support for them. We put some conditions on TfL support, such as looking at the future of driverless trains and increasing efficiency targets. All these things are perfectly reasonable.