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Light Rail News: Issue Issue 01 10 Jul 2009

Mayor and TfL could face £1.7bn funding gap

Meera Rambissoon

London’s transport network could face £1.7billion funding gap by 2018, caused by the effects of the recession, the London Assembly has today warned.

The Assembly’s Budget and Performance Committee says likely negative inflation in July 2009 will mean the London mayor Boris Johnson will have to either freeze or reduce fares in 2010 in line with the formula (RPI + 1%) he committed himself to last year. 

Reductions in passenger numbers mean TfL is already facing a...

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