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Fall in business rates could hit TfL’s coffers

Funding

13 July 2020
 

Transport for London could face further financial pressures from an expected fall in the capital’s business rates revenues because of Covid-19.

London mayor Sadiq Khan has said the Greater London Authority group, of which TfL is a part, faces a £493m budget shortfall over the next two years under a “reasonable worst case scenario” because of predicted losses of business rates and council tax revenues resulting from Covid-19. 

Business rates make an important...

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