Update on Government funding agreement for TfL

A funding agreement with Government has been reached, currently forecast to be worth around £1.8bn subject to actual levels of passenger revenue. The agreement will enable Transport for London (TfL) to continue to support the capital for the remainder of the financial year as discussions on longer-term sustainable funding continue. 

Andy Byford, London’s Transport Commissioner, said: “Reaching this agreement with the government allows us to help London through this next phase of the pandemic. We will continue to work with the Mayor and the government on our longer-term funding needs. As always, our staff are working tirelessly to serve London’s people and businesses; supporting the city’s economy and providing an excellent, safe and reliable service to our customers every day.”