TfL Funding Update
TfL has today issued an update on its funding discussions with Government: A Transport for London (TfL) spokesperson said: “We continue to discuss our funding requirements with the government and hope these discussions can be concluded successfully soon, to enable a strong and robust recovery from the pandemic”. The following information is provided to the […]
Jun 1, 2021
TfL has today issued an update on its funding discussions with Government:
A Transport for London (TfL) spokesperson said: “We continue to discuss our funding requirements with the government and hope these discussions can be concluded successfully soon, to enable a strong and robust recovery from the pandemic”.
The following information is provided to the markets:
Government Support Package
On 1 November 2020, TfL announced that an extraordinary funding and financing support package (the "H2 Funding Package") had been agreed between TfL and the Department for Transport ("DfT") to contribute towards TfL's forecast funding shortfall, arising from the loss of passenger revenue as a result of the coronavirus pandemic. The H2 Funding Package originally provided support for the period from 18 October 2020 to 31 March 2021 and was subsequently extended to 18 May 2021 and 28 May 2021.
With the H2 Funding Package expiring on 28 May 2021 TfL continues constructive discussions with the DfT with regards to TfL’s need for further financial support and will make any further announcements in due course.
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