Question to the Department for Transport:

To ask the Secretary of State for Transport, if he will make an assessment of the potential merits of a new funding model for Transport for London.

In October 2020, the Government agreed an extraordinary funding and financing package for TfL worth up to £1.7bn, in addition to the earlier May 2020 deal worth up to £1.6bn, to ensure the continuation of public transport services in London during the pandemic; this deal runs until 31 March 2021. The deal is fair to national taxpayers and it takes steps to put TfL on a sustainable footing. As part of the deal, TfL was required to produce a plan for financial sustainability, with a target date for 2023. Having received this plan, the Government will now consider and discuss with the Mayor and TfL how a trajectory to financial sustainability can be achieved.