Editing Transport for London (section)

===Financing===
The majority of TfL's funding is provided by the GLA and the Mayor of London. Traditionally, the British government via the [[Department for Transport]] (DfT) also used to contribute considerably; however, throughout the 2010s, there was a concerted drive by the Conservative government to reduce central government expenditure on TfL, and that the organisation ought to pursue self-sufficiency and make greater efforts to generate its own revenue to supplement its grants.<ref>{{cite web |url = https://www.ft.com/content/b7392524-8923-11e5-90de-f44762bf9896 |title = TfL faces £700m a year cut in state subsidy by turn of the decade |first1 = Conor |last1 = Sullivan |first2 = Jim |last2 = Pickard |date = 12 November 2015 }}</ref><ref>{{cite web |url = https://www.railtechnologymagazine.com/Rail-News/financial-investigation-casts-doubt-over-tfl-pledges |title = Financial investigation casts doubt over TfL pledges |publisher = railtechnologymagazine.com |date = 12 September 2016}}</ref> Accordingly, the operational budget of almost £700 million per year provided by the DfT by 2015 was to be entirely eliminated by 2020.<ref>{{cite web |url = https://www.theguardian.com/politics/2015/nov/25/spending-review-transport-deepest-budget-cut |title = Transport suffers deepest cuts after London subsidy axed |work = The Guardian |first = Gwyn |last = Topham |date = 25 November 2015}}</ref><ref>{{cite web |url = https://www.bbc.co.uk/news/uk-england-london-34923879 |title = Cuts to the London transport grant to hit from 2018 |publisher = BBC News |first = Tom |last = Edwards |date = 25 November 2015}}</ref>

By February 2018, TfL was projecting a budget deficit of £1 billion, a roughly five-fold increase from 2013, which reportedly threatened its long-term investment plans.<ref>{{cite web |url = https://www.ft.com/content/585f99b6-1887-11e8-9376-4a6390addb44 |title = Transport for London on course for £1bn deficit |publisher = Financial Times |first = Tanya |last = Powley |date = 26 February 2018 }}</ref><ref>{{cite web |url = https://www.onlondon.co.uk/transport-for-london-present-funding-not-enough-to-deliver-mayors-transport-strategy-assembly-members-told/ |title = Transport for London: present funding 'not enough to deliver Mayor's transport strategy', Assembly Members told |date = 21 May 2019 |website = onlondon.co.uk |first = Charles |last = Wright }}</ref> Revenue collected from fares was set to make up a greater proportion of TfL's budget, yet a £240 million downturn in ticket sales by mid-2018 had been recorded.<ref>{{cite web |url = https://theconversation.com/why-fewer-londoners-are-taking-the-tube-a-transport-researcher-explains-94754 |title = Why fewer Londoners are taking the tube – a transport researcher explains |website = theconversation.com |first = Nicole |last = Badstuber |date = 15 May 2018 }}</ref> In September 2019, a TfL application for government funding to upgrade the [[Piccadilly Line]] was rejected by the Treasury.<ref>{{cite web |url = https://www.cityam.com/treasury-rebuffed-tfl-bid-for-piccadilly-line-funds-in-spending-round/ |title = Treasury rebuffed TfL bid for Piccadilly line funds in spending round |first = Alexandra |last = Rogers |date = 22 September 2019}}</ref> That same month, TfL head Mike Brown publicly criticised the government's decision to impose borrowing limits upon the organisation, and there was little long term certainty in terms of funding, necessitating pauses on multiple upgrade programmes.<ref>{{cite web |url = https://www.cityam.com/mike-brown-hits-out-at-bonkers-tfl-borrowing-limits/ |title = Mike Brown hits out at 'bonkers' TfL borrowing limits |publisher = cityam.com |date = 16 September 2019}}</ref>

On 22 April 2020, amid the [[COVID-19 pandemic]], London mayor [[Sadiq Khan]] warned that TfL could [[insolvency|run out of money]] to pay staff by the end of the month unless the government stepped in.<ref name="BBC-22Apr2020">{{cite news |title = Coronavirus: London transport 'may run out of money by end of month' |url = https://www.bbc.co.uk/news/uk-england-london-52379111 |access-date = 24 April 2020 |work = BBC News |date = 22 April 2020 |archive-date = 23 April 2020 |archive-url = https://web.archive.org/web/20200423222046/https://www.bbc.co.uk/news/uk-england-london-52379111 |url-status = live }}</ref> Two days later, TfL announced it was furloughing around 7,000 employees, about a quarter of its staff, to help mitigate a 90% reduction in fare revenues. Following the implementation of a lockdown in London on 23 March, Tube journeys had reportedly fallen by 95% and bus journeys by 85%, though TfL continued to operate limited services to allow "essential travel" for key workers.<ref name="BBC-24Apr2020">{{cite news |title = Coronavirus: Transport for London furloughs 7,000 staff |url = https://www.bbc.co.uk/news/uk-england-london-52394657 |access-date = 24 April 2020 |work = BBC News |date = 24 April 2020 |archive-date = 24 April 2020 |archive-url = https://web.archive.org/web/20200424102519/https://www.bbc.co.uk/news/uk-england-london-52394657 |url-status = live }}</ref> Without government financial support for TfL, [[London Assembly]] members warned that [[Crossrail]], the [[Northern line]] extension and other projects such as step-free schemes at tube stations could be delayed.<ref name="Kelly-28Apr2020">{{cite news |last1 = Kelly |first1 = Megan |title = Fears for London projects as TfL seeks support |url = https://www.constructionnews.co.uk/civils/fears-for-london-projects-as-tfl-seeks-support-28-04-2020/ |access-date = 28 April 2020 |work = Construction News |date = 28 April 2020 |archive-date = 3 May 2020 |archive-url = https://web.archive.org/web/20200503065600/https://www.constructionnews.co.uk/civils/fears-for-london-projects-as-tfl-seeks-support-28-04-2020/ |url-status = live }}</ref>

On 7 May, it was reported that TfL had requested £2 billion in state aid to keep services running until September 2020.<ref name="McDonald-07May2020">{{cite news |last1 = McDonald |first1 = Henry |title = London needs £2bn to keep transport system running until autumn |url = https://www.theguardian.com/uk-news/2020/may/07/london-needs-2bn-to-keep-transport-system-running-until-autumn |access-date = 9 May 2020 |work = The Guardian |date = 7 May 2020 |archive-date = 9 May 2020 |archive-url = https://web.archive.org/web/20200509010021/https://www.theguardian.com/uk-news/2020/may/07/london-needs-2bn-to-keep-transport-system-running-until-autumn |url-status = live }}</ref> On 12 May, TfL documents warned it expected to lose £4 billion due to the pandemic and said it needed £3.2bn to balance a proposed emergency budget for 2021, having lost 90% of its overall income. Without an agreement with the government, deputy mayor for transport [[Heidi Alexander]] said TfL might have to issue a [[Section 114 notice]] - the equivalent of a public body going bust.<ref name="BBC-13May2020">{{cite news |title = Coronavirus: Transport for London expects to lose £4bn |url = https://www.bbc.co.uk/news/uk-england-london-52630386 |access-date = 13 May 2020 |work = BBC News |date = 13 May 2020 |archive-date = 25 June 2020 |archive-url = https://web.archive.org/web/20200625021247/https://www.bbc.co.uk/news/uk-england-london-52630386 |url-status = live }}</ref> On 14 May, the UK Government agreed £1.6 billion in emergency funding to keep Tube and bus services running until September<ref name="BBC-14May2020">{{cite news |title = Coronavirus: Transport for London secures emergency £1.6bn bailout |url = https://www.bbc.co.uk/news/uk-england-london-52670539 |access-date = 15 May 2020 |work = BBC News |date = 14 May 2020 |archive-date = 13 July 2020 |archive-url = https://web.archive.org/web/20200713092122/https://www.bbc.co.uk/news/uk-england-london-52670539 |url-status = live }}</ref> - a bailout condemned as "a sticking plaster" by Khan who called for agreement on a new longer-term funding model.<ref name="InfraIntel-18May2020">{{cite news |last1 = O'Connor |first1 = Rob |title = London mayor describes TfL's £1.6bn bailout as "sticking plaster" |url = http://www.infrastructure-intelligence.com/article/may-2020/tfl-%C2%A316bn-funding-package-described-%E2%80%98sticking-plaster%E2%80%99-mayor-london |access-date = 19 May 2020 |work = Infrastructure Intelligence |date = 18 May 2020 |archive-date = 1 June 2020 |archive-url = https://web.archive.org/web/20200601024223/http://www.infrastructure-intelligence.com/article/may-2020/tfl-%C2%A316bn-funding-package-described-%E2%80%98sticking-plaster%E2%80%99-mayor-london |url-status = live }}</ref>

On 1 June 2020, TfL released details of its emergency budget for 2020–2021; it involved a reduction in capital investment by 39% from £1.3 billion to £808 million along with cuts to maintenance and renewal spending by 38% to £201 million.<ref name="ZGP-01Jun2020">{{cite news |last1 = Garner-Purkis |first1 = Zak |title = TfL to slash spending by £525m |url = https://www.constructionnews.co.uk/civils/tfl-to-slash-spending-by-525m-01-06-2020/ |access-date = 1 June 2020 |work = Construction News |date = 1 June 2020 |archive-date = 10 June 2020 |archive-url = https://web.archive.org/web/20200610101534/https://www.constructionnews.co.uk/civils/tfl-to-slash-spending-by-525m-01-06-2020/ |url-status = live }}</ref> In November 2021, the then Transport Secretary [[Grant Shapps]] criticised reports that senior TfL officials would be offered bonuses potentially in excess of £12 million per year in return for efforts to help [[Break-even (economics)|break-even]].<ref>{{cite web |url = https://www.standard.co.uk/news/politics/grant-shapps-responds-sadiq-khan-tfl-funding-crisis-b967144.html |title = Minister accuses Sadiq Khan of 'public lobbying' over TfL funding crisis |publisher = The Standard |first = Rachael |last = Burford |date = 19 November 2021}}</ref> By December 2021, the British government and the Major of London had implemented three consecutive short-term funding agreements cumulatively costing in excess of £4b to avert closures of several bus routes and tube lines.<ref>{{cite web |url = https://lordslibrary.parliament.uk/extraordinary-funding-for-transport-for-london/ |title = Extraordinary funding for Transport for London |publisher = lordslibrary.parliament.uk |first = Eren |last = Waitzman |date = 6 December 2021}}</ref>

In August 2022, additional British government support was granted to TfL; the organisation was still unable to meet all spending commitments. In response, a new facility was established to balance TfL's budget via the provision of up to £500 million; this facility restricted the GLA's future financial flexibility.<ref>{{cite web |url = https://www.london.gov.uk/media-centre/mayors-press-releases/mayor-establishes-new-facility-ensure-tfl-can-balance-its-budget |title = Mayor establishes new facility to ensure TfL can balance its budget |publisher = london.gov.uk |date = 21 September 2022}}</ref> During late 2023, TfL issued further urgent calls for long-term funding to support its operations; it claimed that the British government would need to provide one quarter of its capital investment plans for 2024. The Department of Transport's position has been that long term funding for TfL should be provided via the Mayor of London, and that in excess of £6 billion in extraordinary funding has already been provided.<ref>{{cite web |url = https://www.building.co.uk/news/tfl-renews-calls-for-long-term-funding-as-passenger-numbers-roar-back-to-pre-pandemic-levels/5126642.article |title = TfL renews calls for long-term funding as passenger numbers roar back to pre-pandemic levels |publisher = building.co.uk |first = Tom |last = Lowe |date = 30 November 2023}}</ref>