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Transport for London: Finance

Volume 468: debated on Thursday 29 November 2007

To ask the Secretary of State for Transport what the outcomes were of meetings held between her Department and Transport for London as part of the Comprehensive Spending Review about (a) their future funding needs and (b) liabilities they may face as a result of Metronet’s entry into administration. (163474)

As a result of the Comprehensive Spending Review, the Department for Transport has agreed a settlement with TfL through to 2017-18, which reflects the expected increased costs of the PPP going forward and makes provision for costs arising from Metronet’s Administration. The agreed levels of funding and borrowing are:

£ million (cash)

TfL grant

TfL borrowing

2007-08

2708

600

2008-09

2785

1250

2009-10

2842

1100

2010-11

3252

300

2011-12

3158

400

2012-13

3305

400

2013-14

3460

300

2014-15

3622

600

2015-16

3720

600

2016-17

3822

600

2017-18

3924

600