LCCI react to latest TfL funding deal

Tuesday 1 June 2021

Reacting to a funding deal being agreed between the government and Transport for London until December 2021:

Richard Burge, Chief Executive of London Chamber of Commerce and Industry, said: “London’s businesses will be pleased to see that a settlement for Transport for London has been agreed and the network keeps moving during 2021. 

"But the level of savings required of TfL raises the concern that this will result in a worsening of service.  As London emerges from the pandemic its public transport network and supply chain is absolutely vital to supporting the economic recovery of the capital and country, fuelling confidence and investment and new jobs growth, supporting a workforce with mixed commuting and working patterns, and for ensuring carbon reduction by keeping cars off the roads. 

“Of course the government wishes to monitor changes in passenger volumes over the coming six months but increased hybrid working and lower international visitor levels will remain beyond the end of this deal.  Questions remain about the government’s commitment to having a public transport network at the heart of London’s success as a global city.  Stop-start funding combined with a desire to constantly reduce the level of public funding undermines confidence in London and in the Government’s concept of a truly global Britain."