Recovering passenger levels and a real-terms reduction in running costs will help Transport for London reach an operating surplus a year after it agreed funding settlement with the government.
A government-imposed savings target could lead to “unacceptable” cuts to pension benefits at Transport for London, which faces the threat of further industrial action if such cuts were to happen.
The government has reached an agreement with Transport for London to supply £1.2bn of funding and additional capital support to avoid a “managed decline” in services.
Failing to agree a new funding settlement with the government could leave Transport for London at risk of issuing a section 114 notice and having to stop all non-essential spending, its finance...
Independent analysis of procurement bids received by Transport for London would help ensure projects provide value for money, a scrutiny body has said, adding that it could help the Greater London...
Rating agency Moody’s has downgraded Transport for London’s credit rating for the third time since the onset of Covid-19, partly down to ongoing uncertainty over long-term funding.
Transport for London has agreed a new three-month £200m funding package with the government, to help keep services running while a long-term settlement is arranged.
The government has agreed to extend Transport for London’s support package until the end of this week, as the network seeks an agreement on a long-term funding settlement.
English councils' net spending on highways and transport more than doubled last year, due to a reduction in income caused by Covid-19, according to outturn figures.
Tensions are rising between central governemnt and a London authority over funding for repairs to Hammersmith Bridge, with transport minister Baroness Vere criticising the business case for...
Transport for London’s finances have been “durably and materially weakened” by Covid-19, ratings agency Moody’s said as it downgraded the body's rating for the second time since the start of the...
Transport for London’s short-term outlook has been revised from negative to stable, due to government pledges to support the network's income pressures, according to ratings agency Standard and Poor’...
Transport for London is expected to slash its capital spending due to weakened passenger demand following the coronavirus pandemic, ratings agency Moody’s has predicted.
The government has confirmed hundreds of millions of extra pounds in emergency Covid-19 support for Transport for London and tram services suffering due to reduced passenger numbers.
The Department for Transport paid out £309m more to railway operators than it received from income in 2019-2020, according to the National Audit Office.
