Sustainable Funding for Public Transport

As the city recovers from the pandemic, we must look to the future of the transport network and ensure it can continue to travel commuters and visitors across the city.

The Elizabeth Line is a shining example of things done right and the future of London’s transport network. Above ground, quicker journeys and guaranteed levels of investment will help us hit our net-zero targets and avoid total gridlock on the roads.

The shift to hybrid working, however, makes the need for a fundamental rethink of how public transport is funded critical to avoid a cycle of decline. We will continue to make the case for longer-term funding solutions to ensure a safe, reliable and seamless high-frequency service, and for the investments, London needs to maintain and enhance existing assets, so it has a mass transit system worthy of a global city. This includes identifying and building support for innovative approaches to funding capital projects, building on our success in helping develop the funding model for the Elizabeth line, as well as ensuring we are active in debates on road user charging and the future of the rail industry, and looking to the creation of Great British Railways (GBR) next year, the new state-owned body to oversee the national rail network.

BusinessLDN will work to protect our public transport services and help develop new opportunities to keep Londoners moving as the city grows.

BusinessLDN’s support during the height of the pandemic, the recovery that followed and our long-term funding campaign have played a vital role in helping us to keep London safe and moving and, crucially, helped us to secure a multi-year funding settlement for Transport for London.

We are sincerely grateful for the extensive and high-profile advocacy undertaken on our behalf, be that publicly or privately, in support of a sustainable funding settlement for TfL. The many opportunities we have had to speak directly with your members have been invaluable, and we look forward to building on this strong partnership over the next four years of the settlement and beyond.

Andy Lord, London’s Transport Commissioner, TfL