Recliner wrote:
Roland Perry wrote:
The TfL support deal was done yesterday just before the midnight
deadline, and doesn't include extending the Congestion Charge zone, but
keeps the current temporary arrangements in place.

Thanks, that's good news. It's been rather lost in all the lockdown
announcements.


The BBC report:

Transport for London (TfL) has secured a £1.8bn government bailout, to keep
Tube and bus services running until March 2021.

The funding will ensure TfL can address its financial shortfall due to the
loss of passengers as a result of Covid-19.

The exact amount of money involved is subject to passenger revenue in the
coming months.

Mayor of London Sadiq Khan said the deal was "not ideal" but he fought hard
against the "very worst" proposals.

"The only reason TfL needs government support is because its fares income
has almost dried up since March," he added.

Without a bailout the network would be forced to issue a Section 114 order,
the equivalent of bankruptcy for a public company.

Discussions on longer-term sustainable funding continue, TfL said.

Amendments to the Congestion Charge introduced in June as part of a
previous bailout - a 30% increase in the fee and longer operating hours -
will remain in place due to the new deal.

Mr Khan said last month the government wanted TfL to extend the charging
zone to the North and South Circular roads, covering around four million
more Londoners.

TfL Commissioner Andy Byford said: "The agreement will enable TfL to
continue to support the capital for the remainder of the financial year as
discussions on longer-term sustainable funding continue.
"Reaching this agreement with the government allows us to help London
through this next phase of the pandemic.

"We will continue to work with the mayor and the government on our
longer-term funding needs."

The government has been contacted for comment.

TfL said it would receive a "core amount of £1bn", consisting of a £905m
grant and £95m of borrowing.

Last month Boris Johnson claimed TfL was "effectively bankrupted" before
coronavirus, and proposals to hike charges were "entirely the
responsibility" of Mr Khan.

It costs £600m a month to keep the network running on its current reduced
service.

The lockdown has led to a 95% cut in people using the Tube compared to this
time last year. [I think that's out of date.]

The number of bus passengers has also dropped, by 85%, and customers no
longer have to tap-in to pay for rides as part of measures to protect
drivers. [That is no long true, and buses don't look quite that empty now.]

Most TfL services are still running, but 7,000 staff - about 25% of the
workforce - have been furloughed to cut costs. [I hadn't realised TfL had
furloughed so many staff. I wonder if that is also out of date?]

https://www.bbc.co.uk/news/uk-england-london-54768723

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