Mayor’s TfL business planDecember 16, 2016
TfL’s business plan went before its Board on 15 December. The plan is significant due to London having a new Mayor and because it runs through to 2021/22. There is much welcome ‘business as usual’ content as well as some new emphases.
The keystone is how TfL will transition itself to being one of very few transport authorities worldwide to be free of subsidy on its operational side. In order to achieve this, TfL will rely on increased fare revenue through more passengers (particularly with the opening of Crossrail), decreased costs and ever-greater commercialisation of its estate and operations.
We are pleased to see reiterated commitment to the Silvertown Crossing and Crossrail 2, and to see the Bakerloo Line Extension gain more prominence.
Seeing the Elizabeth Line passenger number and revenue projections for the first time brings home the scale of the project: £440m in 2019/20 and £759m in 2021/22, with 232m passenger journeys in that year. We look forward to learning more of the vital upgrade plans for the Piccadilly line, which will deliver a 60+% capacity increase. It is positive to see firm dates of re-signalling starting in 2020 and new trains from 2023 in the business plan.
Contact Richard Dilks, email@example.com