London Underground Limited (LUL) was transferred from central Government to Transport for London (TfL) on 15 July 2003. The following table sets out the grant paid to London Regional Transport (LRT), the subsequent amount provided to LUL from that grant including funding for the Jubilee line extension.
London Regional Transport Grant1,2 Of which for London Underground capital and operations1 Of which for Jubilee Line extension construction 1997-98 630 544 506 1998-99 411 313 267 1999-2000 816 637 498 2000-01 315 227 — 2001-023 483 460 — 2002-033 767 742 — 2003-044,5 867 1,218 — 1 Up to July 2000 (when TfL was established) a single grant was paid to LRT to support LUL, London Buses, Croydon Tramlink etc. LUL grant was not recorded separately by the Department and figures for LUL are provided by their accounts. 2 Between July 2000 and July 2003 the grant provided to LRT was primarily for LUL, but see 3 as follows. 3 In 2001-02 LRT spent £24 million and in 2002-03 £25 million on restructuring and re-organising LT Group, principally on LUL prior to the implementation of the Public Private Partnership (PPP). 4 In 2003-04 the grant for LUL was paid to LRT until July 2003 when LUL transferred to TfL. The remaining balance of £351 million for LUL in 2003-04 was paid as part of the GLA Transport Grant from August 2003 and is not included in the LRT Grant total for that year. 5 LRT Grant for 2003-04 included £182 million deferred payment from 2002-03 due to the delayed start of the PPP contracts.