Deadline passes with no deal for crucial TfL Tube and bus funding

A government-imposed midday deadline for Transport for London to accept £3.6bn funding deal passed without agreement.

The long-term finance plan was meant to end to more than two years of emergency government bailouts, totalling £5bn.

But a City Hall spokesperson said there were "significant issues" and talks with the Department for Transport were "ongoing".

"It's in no one's interest to have conditions that could damage TfL, unfairly punish Londoners and the economy or the continued uncertainty of no agreement," said the spokesperson.

'Programme of cuts'

Mayor Sadiq Khan has warned of a programme of cuts to the bus, Tube and cycle networks if the funding package is inadequate.

The rail unions fear any deal will involve job losses, changes to TfL's generous pension scheme and the possible introduction of driverless Tube trains.

The DfT said the funding package would pay for improvements to the Underground and "active travel schemes" to cut pollution and congestion.

"It is clear we are committed to supporting London's transport network, but this must only be done in a way that is fair and represents value for money for taxpayers across the country," said a DfT spokesperson.

TfL has asked the government for an additional £927m to enable it to balance its books between now and April 2023.

"We are in active discussion with the Government to ensure that the draft funding proposal they have made is fair and deliverable and can prevent the managed decline of the capital's transport network," said Andy Byford, Commissioner, Transport for London.

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