Responding to the announcement of a short-term funding deal for Transport for London until June 24 agreed between City Hall and the government, Nick Bowes, Chief Executive, Centre for London said:
“It is welcome news that a deal has been agreed between the Government and City Hall to support TfL until 24 June. The commitments from the Mayor to continue delivering savings while generating more income will require very difficult decisions. Already, fares have increased sharply and council tax is going up, and there needs to be an honest conversation with Londoners about what more might be needed if the levels of service the city has become accustomed to are to be sustained.
“Today’s announcement doesn’t negate the need for a long-term sustainable financial deal for TfL that allows proper forward planning and continued investment in the network. A serious of stop-gap funding deals is just kicking the can down the line – a state of permanent crisis within the TfL is no way to run the modern public transport network London deserves.”ENDS