Transport for London - capital funding settlement

Transport For London

18 December 2023

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018).

Transport for London (TfL)

18 December 2023

Transport for London - capital funding settlement

TfL announces that a capital funding settlement of £250m has been agreed between TfL and the Department for Transport ("DfT") to enable TfL to continue to deliver its current capital programme and its committed major capital projects, prioritising the first phase of the Piccadilly Line Upgrade.

The Long-Term Funding Settlement previously announced on 30 August 2022, which continues until 31 March 2024, recognised the need for Government to support major capital enhancements and major renewals, alongside TfL identifying cost reduction and generating new sources of revenue. This capital funding settlement provides that Government support for these projects in financial year 2024/25.

A copy of the letter setting out the capital funding packaged dated 15 December 2023 will shortly be available from the following page of our website:

 https://tfl.gov.uk/info-for/investors/funding-letters

For further information, please contact:

Transport for London

5 Endeavour Square

London

E20 1JN

Email: [e-mail]

 

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