Bankrupt TfL to consider cutting London Underground, Night Tube and bus services to save £500m.

    Broke' TfL has been advised to cut £500 million in Tube, bus and other transport services in the face of massive pandemic shortfall. 

An independent review setup by Mayor Sadiq Khan and TfL made the recommendations in the face of £2bn funding gap. 

 Among the services that may face the axe are:

• significant off-peak London Underground services
• the Night Tube
• 10 Underground stations at the weekend
• certain National Rail branches closing
• National Rail and Tube station staff
• Woolwich Ferry and other River Services

 The 'TfL Independent Review'recommends all the above may be cut which would save £563 million annually. As well as the measures above, TfL is to consider charging non-London drivers £3.50 to enter the city. 

Going into the corona crisis the London transport body TfL, was already running at a £127 million deficit. TfL needs to raise 72 per cent of its funding from fares. The independent review was setup in July 2020 in the face of bleak financial prospects. 

 As well as the impact of the pandemic, since 2012 TfL has lost around £800 million per year in grants from central government. 

 Despite this TfL had reduced their deficit after government hand outs from £1.5bn to £127m. The report identified a number of ways to save money including the £500 million above. These include cutting staff pay, focusing more on outsourcing bus services and radically reforming the pension scheme. 

Wonder if Sir Peter Hendy's pension will be affected...???

    

 TAXI LEAKS EXTRA BIT :

     

   

 So, ordinary working staff will/may see there wages cut, their pensions ravished... but Khan’s political advisers, PR group and Deputy Mayoral officers are safe from any form of pay cut. Plus TfL senior bosses will still get their share of the £12m bonuses.