Transport for London: Finance

(asked on 25th November 2020) - View Source

Question to the Department for Transport:

To ask the Secretary of State for Transport, with reference to his Department's negotiations with the Mayor of London for a bail-out for Transport for London (TfL), what assessment he has made of TfL's capacity to deliver major capital projects such as proposals to build over London Underground station car parks.


Answered by
Rachel Maclean Portrait
Rachel Maclean
This question was answered on 30th November 2020

The Government has agreed a further extraordinary funding and financing package for TfL of up to £1.7bn to ensure the continuation of public transport services in London.

As part of this deal, by 11 January 2021 TfL will produce a single, comprehensive management plan with options as to how a trajectory to financial sustainability by 2023 can be achieved, including their contribution to capital projects within London. As transport in London is devolved, it is for the Mayor and TfL to assess the merits of capital projects in which they wish to invest, and their capacity to deliver such projects.

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