TfL gets £2bn – but no timetable for Bakerloo Line and DLR extension
Transport for London (TfL) has welcomed a £2bn four-year funding settlement from the government as part of the long-awaited Spending Review.
London’s transport operator had been pushing for a multi-year capital funding agreement similar to those at Network Rail and National Highways for years.
The government said it is the largest settlement in over a decade and will fund vital upgrades to the network, which has been neglected amid a cash crunch over the post-COVID years.
TfL received a “sticking plaster” £250m agreement last year. But campaigners and business groups warned it would not be enough for projects including upgrading the Bakerloo Line, Euston and Crossrail 2.
“This settlement will ensure that London’s transport network can continue to support new homes, jobs and economic growth in the capital. And it will boost jobs, skills, growth and opportunities across the UK,” London’s transport commissioner Andy Lord said.
“It will allow us to deliver a programme of sustainable investment, aligning our suppliers around a longer-term programme.
“And it will mean that we can complete the introduction of new trains on the Piccadilly line and DLR and new signalling on 40 per cent of the Tube, can procure a new tram fleet, progress discussions on new Bakerloo line trains and can get to work on renewing some of London’s critical roads, tunnels and flyovers.”
No timetable for TfL upgrades ‘baffling’
While the deal was welcomed by Lord and London’s Mayor Sadiq Khan, business groups expressed concern that no timetable had been defined for key upgrades.
“It is disappointing that no clear timetable has been provided for vital projects such as the Bakerloo line extension, Euston and Crossrail 2,” Charles Begley, chief executive of London Property Alliance told City PM.
“The funding settlement provides much-needed certainty for London’s transport network but without capital investment that can boost capacity, improve efficiency and increase accessibility, the capital’s full growth potential cannot be realised.”
John Dickie, chief executive of the lobby group BusinessLDN, said the lack of certainty around delivery of “shovel-ready projects like the DLR to Thamesmead and Bakerloo extension… is baffling.”
He added: “The chancellor has delivered some welcome additional spending on infrastructure, transport and skills. But it looks like London has been left short-changed.”