Statement from RIA on TfL funding extension
Responding to the reports that the DfT and TfL have agreed another short-term extension on TfL funding, Railway Industry Association (RIA) Chief Executive Darren Caplan said:
"It must be a concern for everyone who uses, pays for, or works on the railways and tube network in London, that today’s extension marks the eleventh ‘stop-gap’ funding settlement between the Government and TfL in just over two years.
“There clearly needs to be a longer-term deal and we strongly urge the DfT and TfL to negotiate a properly funded multi-annual settlement as soon as possible. Doing so will ensure that the work on vital rail upgrades can go ahead, which ultimately benefits passengers, boosts jobs and investment, and ensures value for money for the taxpayer. The longer this cycle of short-termism goes on, the harder it will be to affordably maintain and build the capital’s transport system, and support not just London’s economy into the future, but also the wider UK’s.”