In brief: Issue 542 1 Apr 2010
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Funding / Financing, Town centre / City / Suburban transport, Greater London
TfL faces transport debt ‘mountain’
Londoners could be facing a debt ‘timebomb’ as a result of Transport for London’s borrowings, Green assembly member Jenny Jones has warned. She said TfL would be paying over £400m each year in debt repayments and interest by 2017/18 in order to fund the Tube upgrades and Crossrail. “These levels of debt are without precedent, as this is the first time London is paying for its own transport infrastructure investment,” said Jones. “Any cutback in...
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