TfL cuts half of its deficit
Transport for London (TfL) has today published its draft budget for financial year 2019/20 which continues the organisation’s progress towards breaking even on the cost of day-to-day operations by 2022/23, for the first time in its history, while investing billions in vital transport improvements in London.
TfL’s balanced five-year Business Plan, published in December last year, set out a fully funded plan for delivering the Mayor’s Transport Strategy up until 2024.
Improvements are being made despite TfL having experienced unprecedented cuts to its operational funding from the Government over the last five years. Unlike the rest of the UK, local authorities within London are generally excluded from Government funding schemes.
Read the full story in next week’s Bus and Coach Buyer, out 29 March