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The House of Commons Transport Committee Report, “Local roads funding and maintenance: filling the gap” recommended that “The DfT should take the lead on consulting with local authorities about the exact nature of a five-year settlement…The DfT should also include London councils in the consultation to seek their views on whether the London funding settlement is fit for purpose”. What discussions, if any, have you or TfL had with the DfT about participating in this consultation?
I welcome the Transport Select Committee’s work on local roads funding, for which Transport for London (TfL) provided both written and oral evidence, and fully support the recommendation that local roads are funded through five-year settlements.
Longer-term funding certainty on city region road networks, rather than ad-hoc settlements, would allow more cost-effective and sustainable asset management. This is important not only for TfL but also for London boroughs, who have been significantly impacted by funding cuts. It is also vital for businesses who are seeking certainty that London will continue to be an attractive place to do business.
I wrote to the Chancellor on 27 August to explain that to meet demand and support London’s growth, TfL urgently needs certainty of long-term, sustained funding, either through the restoration of a grant or by fiscal devolution. I want to work with Government to urgently agree a settlement which provides long-term funding certainty to support investment our transport network, including London’s roads.