Transport for London: Finance

Department for Transport written question – answered on 30th June 2021.

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Photo of Sam Tarry Sam Tarry Shadow Minister (Transport)

To ask the Secretary of State for Transport, whether he has had discussions with relevant stakeholders on steps TfL plans to take to raise an additional £500 million every year, in response to the most recent TfL funding agreement.

Photo of Rachel Maclean Rachel Maclean Parliamentary Under-Secretary (Department for Transport)

In June the Government agreed a third extraordinary funding and financing package for Transport for London (TfL), worth around £1.08 billion. This deal takes steps to put TfL on a financially sustainable footing, including the identification of between £0.5-£1.0 billion of new/increased revenue sources by 2023.

It is for the Mayor and TfL to lead this review and any consultation process, to ensure all stakeholders views are taken into consideration.

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