UK government throws Transport for London lifeline with extra funding
Transport for London (TfL) has received a short-term funding package to the tune of 220 million pounds (262 million euros), the UK government announced earlier on Friday.
The latest lifeline marks the fourth emergency funding package for TfL, which has been hard by the downturn in passenger numbers due to COVID-19. The current settlement runs until June 24, the government writes. In total the transport company has received close to 5 billion pounds in support.
The office of the Mayor of London welcomed the funding package, but also lamented the fact that the money will only keep TfL going for “a few more months”.
“TfL has a critical role to play in driving the recovery and it supports tens of thousands of jobs across the UK, but the Government’s short-term deals are trapping TfL on life support and putting economic growth and jobs at risk”, the office writes.
The government, on its part, says the deal “also includes the potential for a longer-term capital investment settlement for TfL.” The mayor’s office hopes this will “soon turn into a concrete commitment from the Government”.
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