TfL secures another short-term funding deal from Government
By Joe Talora, Local Democracy Reporter
Transport for London (TfL) has been granted another short-term extension to its emergency funding deal by the Government, it has been announced.
The £200 million bailout agreed in February was set to expire on June 24, but a stalemate in negotiations over a long-term funding agreement saw the deadline extended until 11:59pm on July 13.
But with just hours to go until that deadline, TfL has announced another short-term extension. This time they have until July 28.
In a statement, TfL revealed a two-week extension had been agreed with the Department for Transport so that discussions over a longer-term deal could continue.
A TfL spokesman said: “Working together, we must achieve a longer term capital funding settlement that ensures London’s transport network can remain reliable and efficient, can support the jobs and new homes that rely upon it and can support the economic recovery of the capital and the country as a whole.
“We hope these discussions can be concluded successfully soon.”
Pictured top: TfL has secured an extra funding deal (Picture: TfL)
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