Financial Crisis at TfL

Steve Speakers Corner
5 min readNov 3, 2020

Despite the Government’s £1.8 billion bail out of Transport for London, TfL’s financial crisis continues. The deal between TfL and the Department for Transport specifically states that TfL must “reach a financially sustainable position as soon as possible”. Crucially it specifies that position will not include money from central government and TfL must therefore find both “potential new sources of income” and significant efficiencies.

As with any service organisation, one of TfL’s most significant costs is that of its staff. Its staffing related costs must without doubt therefore be a…

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