Transport for London on 20 March released its budget which shows the operating deficit almost halved from £968 million to £500 million in 2018/19
Gareth Bacon AM, Chairman of the Budget & Performance Committee, said:
“It’s welcome news that TfL’s finances are moving in the right direction. Faced with increased risk – from economic uncertainties and from Crossrail – putting money in the bank makes sense.
“However, TfL still has a job to do moving people safely around London. We know, for example, that the budget for non-essential road repairs has been halved[2], with a possible impact on vulnerable road users.
“TfL should now look again across its operations and seek out opportunities where loosening the purse strings may make a meaningful difference to the travelling public.”