Government indicate intention to extend funding for Tfl.

Following news that the Gallows Corner refurbishment could be cancelled if extra funding is not provided by the Government to help Transport for London, yesterday Tfl issued the following update on Government funding:

A Transport for London (TfL) spokesperson said: “We continue to discuss our funding requirements with the Government, who have today indicated their intention to extend our funding support for TfL through until17 December 2021.

“There is no UK recovery from the pandemic without a London recovery and there is no London recovery without a properly funded transport network in the capital. We hope the discussions can be successfully concluded soon.”

On 1 June 2021, TfL announced that an extraordinary funding and financing support package (the “Funding Package“) had been agreed between TfL and the DfT to support transport services in London and contribute towards TfL’s forecast revenue loss due to reduced passenger numbers using TfL services as a result of the pandemic. The Funding Package provided support for the period from 29 May 2021 to 11 December 2021.
TfL continues to discuss funding requirements with DfT for the period beyond 11 December 2021 and understands that Government intends to extend the current arrangements to 17 December 2021. We await confirmation of that extension and its terms.

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