Sadiq Khan today issued a blunt ultimatum to ministers to agree an emergency bailout for Transport for London within hours or bus and Tube services would be cut.
The mayor warned the government had until the ‘close of play’ to come up with a rescue package to stop TfL running out of cash.
Mr Khan, speaking to LBC Radio said TfL was spending £600m a month but had lost 90% of its normal income from fares, advertising and the Congestion Charge.
Bus full of passengers in Wembley Credit: PA
The organisation was forced to raid its £1.2bn cash reserve fund at the beginning of May. 7,000 staff were furloughed to save £16m a month.
Bosses have been in talks with the government for several weeks about a funding package.
TfL’s Chief Finance Officer Simon Kilonback has a legal duty under local government finance laws to put an immediate brake on spending if no deal emerges.
Keith Prince, the Conservative Transport spokesman on the London Assembly, accused Sadiq Khan of "playing politics with people's lives".
