RIA welcomes reprieve of latest TfL deal, but urges longer-term certainty
The Government and Transport for London (TfL) have today (Friday 25 February) agreed an extension of funding support until June 24 2022.
Darren Caplan, Chief Executive of the Railway Industry Association (RIA) responded: “The latest funding deal announced for Transport for London (TfL) will offer some reprieve for businesses and rail and tube passengers, as the capital recovers from the impact of the pandemic. And it is good that the Government has recognised the need for certainty of funding and is willing to consider a longer-term capital settlement.
“However, today’s four-month extension does not help TfL or businesses to plan for the long-term and it fails to address uncertainty around vital railway upgrades. Projects such the Bakerloo Line extension, Piccadilly Line signalling and Crossrail 2 remain in doubt, the effects of which ultimately will be felt by passengers and the London and national economy. Such uncertainty also makes it harder for hundreds of rail businesses around the UK, who supply to and support the capital’s transport system, to invest in skills and capabilities.
“With passenger numbers clearly returning to London’s transport network, now is the time to be ambitious for the future rather than relying on temporary solutions. The Government and TfL need to work closely on a multi-year funding settlement, enabling the capital’s railway and tube network to be renewed and enhanced in the months and years ahead, ultimately helping drive economic growth not just in London but right across the UK.”
