The British government will pump £1.6 billion into London's public transport system to restore services and help prevent overcrowding as people return to work, operator Transport for London (TfL) s...
The British government will pump £1.6 billion into London’s public transport system to restore services and help prevent overcrowding as people return to work, operator Transport for London said on Friday.
TfL informed the London Stock Exchange on Friday that “an extraordinary funding and financing support package has been agreed between TfL and the Department for Transport to contribute towards TfL’s forecast funding shortfall. TfL has seen a 90-per cent drop in revenue from ticket sales during the seven-week coronavirus lockdown as passenger numbers slumped.
Khan on Thursday warned that without government funding, bus and Tube services would have to be cut to save money, as TfL tried to balance its books.
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