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Transport for London: Long-term Funding Settlement

Volume 720: debated on Thursday 13 October 2022

11. What recent discussions she has had with Transport for London on its progress on making the agreed savings under the long- term funding settlement of 30 August 2022. (901615)

Well, this is not remotely intimidating!

The longer-term settlement agreed with the Mayor in August sets a framework for Government funding until March 2024 and gives certainty on transport in London. It is based on commitments made by the Mayor during previous agreements and it is now down to the Mayor and Transport for London to deliver. Progress under the most recent funding settlement will be regularly monitored to ensure fairness to the national taxpayer.

I thank the Minister for that answer.

May I also commemorate the tragedy that took place 70 years ago last weekend at Harrow & Wealdstone station, in my constituency? A number of events were held in Harrow to commemorate that event, and I thank the Minister of State, Department for Transport, the hon. Member for Torbay (Kevin Foster) for mentioning it.

On the long-term settlement for TfL, the Mayor has committed £500 million-worth of savings, but thus far we have heard nothing about what savings are to be made, and it appears that no progress has been made. Will the Under-Secretary commit to holding the Mayor to account and making sure that those savings are resolved before that funding is provided to TfL?

The long-term funding settlement does not include a condition that requires the Mayor to make or report on specific savings targets. It is for the Mayor and TfL to deliver within the funding outlined in the settlement, which provides security until March 2024 and is, I remind my hon. Friend, the fifth package of support the Government have provided to TfL for covid recovery. I remind the House that TfL was originally set up to be independent of central Government in terms of its income and spend. The current settlement returns to that model as a whole, and it is for the London Mayor to decide how he controls his costs and looks for efficiencies within TfL. We will continue to monitor his progress to ensure that taxpayers’ money is used fairly to support London’s commuters.