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London Chamber of Commerce and IndustryLondon Chamber of Commerce and Industry
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Businesses breathe sigh of relief over TfL funding deal

Tuesday 30 August 2022

Richard Burge, Chief Executive of the London Chamber of Commerce and Industry, said:

“Businesses in London will be breathing a sigh of relief today following the news that Transport for London (TfL) and the Government have today reached an agreement on funding, which guarantees the services of London’s essential transport network for the next few years.

London is a global city reliant on its public transport network like no other city in the UK. It underpins businesses and their growth, tourism and has a significant role to play in making our city more sustainable so it is paramount that its funding is robust.

However, while we are pleased that the Government has recognised the importance of funding infrastructure developments, we are concerned that without long-term funding and strategic direction that are not reliant on electoral cycles we cannot ensure the future prosperity of the network.

Today’s agreement is a step in the right direction, but we need a sustainable funding deal for London which looks ahead more than two years.”

ENDS