TfL juggles payments to fill capital spend shortfall

05/01/2024 | CHRIS AMES

Transport for London (TfL) is set to deliver the full programme of improvements and renewals for 2024/25 following 'difficult decisions' and a £250m capital injection from the Government.

The transport authority said it has always been clear that it could fund around 75% of its capital investment programme in its business plan for 2024-25 but required government support.

The Government has confirmed that it will provide £250m capital funding over the next year, however TfL said this was only half the amount needed.

As a result the transport authority said ‘difficult decisions’ had been made to ensure the draft improvements and renewals infrastructure plans could continue and London's Finance Committee could agree the business plan via delegated authority.

TfL says it will improve Lambeth Bridge and make it safer

Capital spending under the heading of 'safe and healthy streets' includes new cycleways and safer junctions, while 'streets, buses, and rail and sponsored services' renewals include renewing major road, bridges and tunnels.

TfL said measures to financially balance the plan include rephasing the timing of payments under the contract with Siemens Mobility, which is delivering the new Piccadilly line trains that are currently under construction.

Mayor Sadiq Khan said: ‘These past few years have been the most challenging in TfL’s history, but following a programme of work to rebuild ridership, increase income and reduce costs, I’m pleased that TfL is now on track to be financially sustainable for the first time in its history in terms of its day-to-day operations.

‘As the Government has only provided half of the capital funding that TfL needs, TfL has had to make difficult decisions about their business plan to ensure they can continue to make vital upgrades to London’s transport network.

'That’s why it is still vitally important that we agree a sustainable long-term funding settlement from the Government that allows us to plan and invest for the infrastructure London will need over the coming decades.’

TfL said its Business Plan, which runs until the end of 2026-27, continues to assume that from 2025/26 onwards 50% of its major capital investment programmes, such as for rolling stock and signalling projects, is funded by the Government.

Highways InProfile

latest magazine issue
Highways jobs

Traffic Management Technician - WMF2240e

£28,598 - £29,540
Westmorland and Furness Council is seeking a committed and technically capable individual to join our Traffic Management Team Kendal, Cumbria
Recruiter: Westmorland and Furness Council

Senior Technician-Road Closures

£35,422 - £38,730
The Network Planning division is seeking to appoint someone who is enthusiastic and a team player Derbyshire
Recruiter: Derbyshire County Council

Technician - Road Closures (2 Posts)

£29,719 - £31,691
The Network Planning division is seeking to appoint someone who is enthusiastic, an excellent team player Derbyshire
Recruiter: Derbyshire County Council

Structures Inspector

£Competitive
We are excited to offer a fantastic opportunity for two Permanent Structure Inspectors to join our dynamic SBIM team Bristol
Recruiter: Amey

Highways Maintenance Operative

£Competitive
We have fantastic opportunities for a permanent Highways Maintenance Operatives Kettering, Northamptonshire
Recruiter: Amey

Site Manager

£Competitive
We are excited to offer a fantastic opportunity for a Permanent Site Manager Bristol
Recruiter: Amey

Principal Commercial Manager

£Competitive
The SBIM contract involves delivering inspection and maintenance programmes for National Highways Bristol
Recruiter: Amey

Senior Commercial Manager

£Competitive
We are excited to offer a fantastic opportunity for a Permanent Senior Commercial Manager Nottingham, Nottinghamshire
Recruiter: Amey

Highways Maintenance Operative

£Competitive
We have fantastic opportunities for a permanent Highways Maintenance Operatives. Northampton, Northamptonshire
Recruiter: Amey

Managing QS

£Competitive
In this role, you will support the Senior Commercial team in the end to end commercial process for the Area 12 contract. Yorkshire and the Humber
Recruiter: Amey

Highways Inspection Officer

£32,962 - £36,791 per annum
We have an exciting opportunity for a Highways Inspection Officer to join us! Windsor, Berkshire
Recruiter: The Royal Borough of Windsor & Maidenhead

Highways Technical Assistant

£29,064 - £31,537
Are you looking for a varied role in a dynamic and innovative team environment that can make a real difference to North Yorkshire’s highways? Leeming Bar, Northallerton
Recruiter: North Yorkshire Council

Street Lighting Electrical Inspector

£34,434 - £38,220 per annum
Do you hold an ONC in electrical engineering or City & Guilds Electrician? Northallerton, North Yorkshire
Recruiter: North Yorkshire Council

Senior bridge Engineer - WMF2212e

£47,181 - £48,226
You will be the key responsible engineer for this area and will also provide technical advice and guidance to our team Cumbria / Various
Recruiter: Westmorland and Furness Council

Civil Enforcement Officer - WMF2221e

£28,598 - £29,540
Are you seeking an active and challenging role, part of a friendly and welcoming team? Kendal, Cumbria
Recruiter: Westmorland and Furness Council

Bridge Engineer - WMF2219e

£42,839 - £44,075
We are currently seeking to recruit an experienced and enthusiastic Bridge Engineer Kendal, Cumbria
Recruiter: Westmorland and Furness Council

Senior Public Transport Officer

£42,839 - £46,142
We are looking for an experienced public transport professional to become our Senior Public Transport Officer. Northamptonshire
Recruiter: North Northamptonshire Council

Principal Transport Planner (Strategy) (Fixed-Term)

£48,226-£51,356
We are looking for an experienced professional to join as a Principal Transport Planner (Strategy) Northampton, Northamptonshire
Recruiter: North Northamptonshire Council

Mobile Street Scene Operative

£24,796 to £25,989 per annum
The Waste and Street Scene department requires enthusiastic and committed mobile street cleansing operative. Northallerton, North Yorkshire
Recruiter: North Yorkshire Council

Senior Technician - Highways Design (2 Posts)

Grade 10 £35,422 - 38,730 per annum
An exciting opportunity has arisen within the Professional Services Section Derbyshire
Recruiter: Derbyshire County Council
SUBSCRIBE NOW

Latest Video

Subscribe to Highways today to ensure you keep your finger on the pulse of everything happening in the UK road network throughout the year.

SUBSCRIBE NOW