Fare Rises And Warning Of Bus Cuts As Government Funding Deal For Tfl Agreed

ransport for London on Tuesday agreed a multibillion-pound rescue deal with the government that will prevent the capital’s transport system from plunging into “managed decline”. But London Mayor Sadiq Khan warned that rises in Underground fares and some bus cuts were still on the horizon as the settlement left TfL with a “significant funding gap”. City Hall bosses have been locked in intense negotiations with government staff for weeks to secure a deal. They rejected three deals, which they said would have led to TfL issuing a “catastrophic” section 114 notice, which means shutdowns and mass closures across the network. The capital’s tube and bus services have been boosted during the pandemic with £5bn of funding signed off by ministers.

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But fare revenue remained around 20 per cent below pre-Covid levels, putting extreme pressure on TfL’s finances. The new deal includes £3.6 billion for maintenance and infrastructure projects and will see TfL bring back its Healthy Streets programme, which has helped encourage walking and cycling. But Mayor Sadiq Khan said the arrangement was “far from ideal” and left the network needing to find £230m by April 2024. “The government still leaves TfL with a significant funding gap, which means we will likely need to raise fares in the future and make some cuts to bus services,” Mr Khan said. TfL chiefs are also still facing tough negotiations with unions, which have paralyzed the network during several days of strike action this year in an ongoing dispute over pay, pensions and contract terms and conditions. Mr Khan added: “There are heavy strings attached [to the deal]such as the government’s condition requiring TfL to propose options to reform TfL’s pension scheme at a pace which could well lead to more industrial action and more disruption for commuters. “These are things we had no choice but to accept in order to reach the deal to prevent TfL going bankrupt, save the jobs of thousands of transport workers and keep trains, tubes and buses running across the city us. “The sole cause of TfL’s financial crisis was the impact of the pandemic, so it is simply wrong to punish Londoners and transport workers in this way.” Transport Secretary Grant Shapps said the Government’s deal delivers for Londoners as well as taxpayers living elsewhere in the country. It includes cash for a “number of projects set to revolutionize travel in London”, including brand new Piccadilly line trains, as well as modernizations and upgrades to the District, Metropolitan, Hammersmith and City and Circle lines. “For over two years now we have shown time and time again our unwavering commitment to London and the transport network it depends on, but we must be fair to taxpayers across the country,” Mr Shapps said. “This deal offers more than Londoners and even matches the Mayor’s pre-pandemic spending plans, but for this to work the Mayor must keep his promises to put TfL back on a solid financial footing, stop rely on government bailouts and take responsibility for his actions.” Transport for London Commissioner Andy Byford added: “This hard-won deal means we can now get on with the job of supporting London’s recovery from the pandemic – to the benefit of the whole country. “There is no UK recovery without London recovery, and no London recovery without a properly funded transport network.”

title: “Fare Rises And Warning Of Bus Cuts As Government Funding Deal For Tfl Agreed Klmat” ShowToc: true date: “2022-11-14” author: “Nina Zee”

ransport for London on Tuesday agreed a multibillion-pound rescue deal with the government that will prevent the capital’s transport system from plunging into “managed decline”. But London Mayor Sadiq Khan warned that rises in Underground fares and some bus cuts were still on the horizon as the settlement left TfL with a “significant funding gap”. City Hall bosses have been locked in intense negotiations with government staff for weeks to secure a deal. They rejected three deals, which they said would have led to TfL issuing a “catastrophic” section 114 notice, which means shutdowns and mass closures across the network. The capital’s tube and bus services have been boosted during the pandemic with £5bn of funding signed off by ministers.

read more

But fare revenue remained around 20 per cent below pre-Covid levels, putting extreme pressure on TfL’s finances. The new deal includes £3.6 billion for maintenance and infrastructure projects and will see TfL bring back its Healthy Streets programme, which has helped encourage walking and cycling. But Mayor Sadiq Khan said the arrangement was “far from ideal” and left the network needing to find £230m by April 2024. “The government still leaves TfL with a significant funding gap, which means we will likely need to raise fares in the future and make some cuts to bus services,” Mr Khan said. TfL chiefs are also still facing tough negotiations with unions, which have paralyzed the network during several days of strike action this year in an ongoing dispute over pay, pensions and contract terms and conditions. Mr Khan added: “There are heavy strings attached [to the deal]such as the government’s condition requiring TfL to propose options to reform TfL’s pension scheme at a pace which could well lead to more industrial action and more disruption for commuters. “These are things we had no choice but to accept in order to reach the deal to prevent TfL going bankrupt, save the jobs of thousands of transport workers and keep trains, tubes and buses running across the city us. “The sole cause of TfL’s financial crisis was the impact of the pandemic, so it is simply wrong to punish Londoners and transport workers in this way.” Transport Secretary Grant Shapps said the Government’s deal delivers for Londoners as well as taxpayers living elsewhere in the country. It includes cash for a “number of projects set to revolutionize travel in London”, including brand new Piccadilly line trains, as well as modernizations and upgrades to the District, Metropolitan, Hammersmith and City and Circle lines. “For over two years now we have shown time and time again our unwavering commitment to London and the transport network it depends on, but we must be fair to taxpayers across the country,” Mr Shapps said. “This deal offers more than Londoners and even matches the Mayor’s pre-pandemic spending plans, but for this to work the Mayor must keep his promises to put TfL back on a solid financial footing, stop rely on government bailouts and take responsibility for his actions.” Transport for London Commissioner Andy Byford added: “This hard-won deal means we can now get on with the job of supporting London’s recovery from the pandemic – to the benefit of the whole country. “There is no UK recovery without London recovery, and no London recovery without a properly funded transport network.”

title: “Fare Rises And Warning Of Bus Cuts As Government Funding Deal For Tfl Agreed Klmat” ShowToc: true date: “2022-11-15” author: “William Edison”

ransport for London on Tuesday agreed a multibillion-pound rescue deal with the government that will prevent the capital’s transport system from plunging into “managed decline”. But London Mayor Sadiq Khan warned that rises in Underground fares and some bus cuts were still on the horizon as the settlement left TfL with a “significant funding gap”. City Hall bosses have been locked in intense negotiations with government staff for weeks to secure a deal. They rejected three deals, which they said would have led to TfL issuing a “catastrophic” section 114 notice, which means shutdowns and mass closures across the network. The capital’s tube and bus services have been boosted during the pandemic with £5bn of funding signed off by ministers.

read more

But fare revenue remained around 20 per cent below pre-Covid levels, putting extreme pressure on TfL’s finances. The new deal includes £3.6 billion for maintenance and infrastructure projects and will see TfL bring back its Healthy Streets programme, which has helped encourage walking and cycling. But Mayor Sadiq Khan said the arrangement was “far from ideal” and left the network needing to find £230m by April 2024. “The government still leaves TfL with a significant funding gap, which means we will likely need to raise fares in the future and make some cuts to bus services,” Mr Khan said. TfL chiefs are also still facing tough negotiations with unions, which have paralyzed the network during several days of strike action this year in an ongoing dispute over pay, pensions and contract terms and conditions. Mr Khan added: “There are heavy strings attached [to the deal]such as the government’s condition requiring TfL to propose options to reform TfL’s pension scheme at a pace which could well lead to more industrial action and more disruption for commuters. “These are things we had no choice but to accept in order to reach the deal to prevent TfL going bankrupt, save the jobs of thousands of transport workers and keep trains, tubes and buses running across the city us. “The sole cause of TfL’s financial crisis was the impact of the pandemic, so it is simply wrong to punish Londoners and transport workers in this way.” Transport Secretary Grant Shapps said the Government’s deal delivers for Londoners as well as taxpayers living elsewhere in the country. It includes cash for a “number of projects set to revolutionize travel in London”, including brand new Piccadilly line trains, as well as modernizations and upgrades to the District, Metropolitan, Hammersmith and City and Circle lines. “For over two years now we have shown time and time again our unwavering commitment to London and the transport network it depends on, but we must be fair to taxpayers across the country,” Mr Shapps said. “This deal offers more than Londoners and even matches the Mayor’s pre-pandemic spending plans, but for this to work the Mayor must keep his promises to put TfL back on a solid financial footing, stop rely on government bailouts and take responsibility for his actions.” Transport for London Commissioner Andy Byford added: “This hard-won deal means we can now get on with the job of supporting London’s recovery from the pandemic – to the benefit of the whole country. “There is no UK recovery without London recovery, and no London recovery without a properly funded transport network.”

title: “Fare Rises And Warning Of Bus Cuts As Government Funding Deal For Tfl Agreed Klmat” ShowToc: true date: “2022-10-27” author: “Isabel Willman”

ransport for London on Tuesday agreed a multibillion-pound rescue deal with the government that will prevent the capital’s transport system from plunging into “managed decline”. But London Mayor Sadiq Khan warned that rises in Underground fares and some bus cuts were still on the horizon as the settlement left TfL with a “significant funding gap”. City Hall bosses have been locked in intense negotiations with government staff for weeks to secure a deal. They rejected three deals, which they said would have led to TfL issuing a “catastrophic” section 114 notice, which means shutdowns and mass closures across the network. The capital’s tube and bus services have been boosted during the pandemic with £5bn of funding signed off by ministers.

read more

But fare revenue remained around 20 per cent below pre-Covid levels, putting extreme pressure on TfL’s finances. The new deal includes £3.6 billion for maintenance and infrastructure projects and will see TfL bring back its Healthy Streets programme, which has helped encourage walking and cycling. But Mayor Sadiq Khan said the arrangement was “far from ideal” and left the network needing to find £230m by April 2024. “The government still leaves TfL with a significant funding gap, which means we will likely need to raise fares in the future and make some cuts to bus services,” Mr Khan said. TfL chiefs are also still facing tough negotiations with unions, which have paralyzed the network during several days of strike action this year in an ongoing dispute over pay, pensions and contract terms and conditions. Mr Khan added: “There are heavy strings attached [to the deal]such as the government’s condition requiring TfL to propose options to reform TfL’s pension scheme at a pace which could well lead to more industrial action and more disruption for commuters. “These are things we had no choice but to accept in order to reach the deal to prevent TfL going bankrupt, save the jobs of thousands of transport workers and keep trains, tubes and buses running across the city us. “The sole cause of TfL’s financial crisis was the impact of the pandemic, so it is simply wrong to punish Londoners and transport workers in this way.” Transport Secretary Grant Shapps said the Government’s deal delivers for Londoners as well as taxpayers living elsewhere in the country. It includes cash for a “number of projects set to revolutionize travel in London”, including brand new Piccadilly line trains, as well as modernizations and upgrades to the District, Metropolitan, Hammersmith and City and Circle lines. “For over two years now we have shown time and time again our unwavering commitment to London and the transport network it depends on, but we must be fair to taxpayers across the country,” Mr Shapps said. “This deal offers more than Londoners and even matches the Mayor’s pre-pandemic spending plans, but for this to work the Mayor must keep his promises to put TfL back on a solid financial footing, stop rely on government bailouts and take responsibility for his actions.” Transport for London Commissioner Andy Byford added: “This hard-won deal means we can now get on with the job of supporting London’s recovery from the pandemic – to the benefit of the whole country. “There is no UK recovery without London recovery, and no London recovery without a properly funded transport network.”