Transport for London: Funding

Lord Tunnicliffe Excerpts

Thursday 23rd June 2022 Lords Chamber

[Viscount Younger of Leckie (Con)]

I can give my noble friend—I think I can call him that—an update. The Government remain committed to supporting both the London Borough of Hammersmith and Fulham and TfL in the repair of Hammersmith Bridge. A first business case was approved, but there is another stage whereby a further business case that is compliant with Treasury rules has to be presented. It is important that we remain committed to the reopening of Hammersmith Bridge.

[Lord Tunnicliffe (Lab)]

My Lords, the situation we face is extremely serious. This is not just some transport issue; it is about London. London’s integrated public transport system is absolutely crucial. We are talking not just about domestic use but about London’s international reputation: it is why firms are willing to locate here in the financial district. I was involved in recovering London transport from the managed decline of the 1970s—it took three decades. This is not just about whether the mayor and Prime Minister can agree with each other; it is about recognising that we cannot be allowed to slip into that syndrome again. Can the Minister assure me that this is the central objective of government?

[Viscount Younger of Leckie (Con)]

I regret that I am not able to give an announcement on funding beyond tomorrow, but the noble Lord is right that investment in London benefits the economy and supply chain outside London. The Government recognise the need for certainty and stability in Transport for London’s capital investment programme, and remain committed to supporting London. But TfL’s income for 2021-22, including revenue from fares, road user charging, business rates and council tax—and our emergency support—is about the same as it was in the last year before the pandemic.