Transport: GLA Transport Grant
House of Lords
Lord Bradshaw (Liberal Democrat)
To ask Her Majesty's Government, further to the Written Statement by Earl Attlee on 20 March, what powers they have to review the Greater London Authority transport grant should Transport for London use the grant to reduce fares rather than invest in upgrades and the other investment projects referred to in the statement.
Earl Attlee (Whip, House of Lords; Conservative)
Transport for London's (TfL's) Spending Review settlement, agreed between the Secretary of State and the Mayor in 2010, is based on a shared commitment to the tube upgrades. It includes a £3.57 billion investment grant, over four years, to support delivery of tube upgrade projects to milestones specified in Annex B of the funding agreement letter.
These upgrades are essential for the growth of London's economy, and for the millions of people who travel on the tube every day.
The Secretary of State for Transport can review the Mayor of London's SR10 settlement at any time in response to relevant considerations, including significant deviations from the Annex B milestones. Paragraph 8 of the funding agreement letter confirms that, in any future review, the Secretary of State will take all relevant circumstances into account, including delivery of the essential upgrading listed at Annex B.