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Secondary stories: Issue 598 11 Jun 2012

Ministers reform TfL’s funding to incentivise economic growth

The Government is making a significant change to the way Transport for London is funded, in a move that aims to encourage the mayor and TfL to promote the capital’s economic growth. 

The change will see a large slice of the transport grant the Government pays to the Greater London Authority (for TfL) replaced with funding from the local government business rates retention scheme, which incentivises local authorities to encourage economic activity.

Transport secretary Justine...

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