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McLoughlin explains the detail of TfL’s funding settlement

FUNDING­

Andrew Forster
18 March 2016
The sources of TfL’s income
The sources of TfL’s income

 

Transport secretary Patrick McLoughlin has written to Boris Johnson setting out the detail of Transport for London’s funding settlement for the next five years.

The letter comes as TfL this week published a new business plan, outlining how it plans to cope with the spending settlement, which will see its resource grant from Government slashed from £447m in 2016/17 to zero in 2018/19.  

London transport commissioner Mike Brown told the TfL board this week that the abolition of...

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