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’...
Five-year business plans by a new oversight body, Great British Railways, will inform government decisions on funding for the rail sector under a shake-up of the system announced by the government.
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 Greater Manchester Combined Authority’s decision to press ahead with a £135m franchising plan is premature, according operators bringing a legal challenge.
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.
Local authorities would be barred from receiving additional funding for bus services if they fail to enter into an ‘enhanced partnership’ or franchise scheme with bus operators, under new proposals.
A strategic transport network for the whole UK is likely to garner more support if funding is not taken from existing devolved budgets, according to interim findings by a government-commissioned...
Following the news that TfN’s annual budget for next year has been cut by the government, PF spoke to Iain Craven, director of finance at the group to shed further light on the situation.
Proposed cuts to government funding for public transport body Transport for the North would “undermine levelling-up” and put planned improvement works at risk, according to the group’s finance chief.
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.
Tyne and Wear Metro saw a 95% reduction in passengers at the beginning of lockdown. John Fenwick, director of finance and resources at the network’s owner and operator, Nexus, tells PF about the long...
Pre-pandemic, rail in Britain was forecast to grow by more than a third over the next two decades, but it will take extraordinary measures and levels of public money to get us back on track
Transport for London requires an extra £2bn this financial year to cover the drop in revenues relating to Covid-19, or risk deterioration of the transport network not seen since the 80s and 90s, it...
The government has pre-empted the publication of its independent review of rail transport by announcing the end of rail franchising after almost 25 years.
Infrastructure investment is seen as vital to post-pandemic recovery, but is it possible to provide a public transport network without the passenger numbers to fund it?
We need resolute, ambitious action and the necessary financial, legislative and political support for local and combined authorities to deliver the right transport priorities for each region, says...
