Press Release

Our response to the latest Transport for London financial settlement

Responding to the latest Transport for London financial settlement, Nick Bowes, Chief Executive of Centre for London said:

“London having an efficient, reliable and affordable public transport system is not just a nice add on, it is critical to the functioning of the city.

“The pandemic sent Transport for London’s revenues plummeting and emergency financial support was always going to be needed to keep the buses, tubes and trains running. This latest deal comes not a moment too soon. 

“But London desperately needs a fair and long-term financial settlement. The government must work with the Mayor to agree a deal that ensures London’s transport system won’t grind to a halt and can support the city’s economic recovery and that London’s public transport network befits its global city status.

“Transport for London must also look for better ways to fund London’s transport system. Smart road user charging could help to secure the extra funding that TfL needs.”