The Transport for London (TfL) has warned that the transport network in London will shut down without a second bailout.
Due to the recent coronavirus pandemic, the TfL’s income fell by 90%. In order to keep services running, the government had agreed to a £1.6 billion bailout. However, this deal is going to expire in two weeks and the TfL says the network needs £2 billion in order to run until the end of the year and almost £3 billion to stay running through 2021.
TfL Commissioner, Andy Byford, said he was “almost begging” the Ministers to send their offers so that negotiations can begin. However, Conservative group leader, Susan Hall, suggests that the network should dip into its £1.2 billion reserve.
Without government funding, the network will be forced to go bankrupt and the Underground, Overground, rail services and buses would stop running. However, the TfL will continue to run buses for students who live more than two miles away from school, licence taxis, private hire vehicles and also carry out limited road repairs.
Photo by Joseph Balzano on Unsplash
News credit: BBC