I am pleased that the Government has reached an agreement with Transport for London. It has agreed to make up the fare revenue lost to TfL because of Covid, meaning they will be provided with up to £1.7 billion to keep buses, tubes and other TfL services running.
The deal runs until the end of March 2021. As part of the deal, the Mayor of London has proposed to make £160 million in savings over the period to March.
It has also been confirmed that the unpalatable suggestion that the Congestion Charge be extended to the North or South Circulars WILL NOT take place. Earlier in the negotiations the Mayor provided zero engagement with the Government and it has always been for him to come forward with plans. Some of the options were spelt out to him, but both sides have agreed against an extension.
This is a generous deal that covers the cost of Covid, but the Government has been clear that it will not cover the cost of Khan’s mismanagement.