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Transport Update
27 June 2022
Type
Written Ministerial Statement
Department
Department for Transport
At a Glance
Issue Summary
Grant Shapps is updating the UK Parliament on an extension to the current Transport for London (TfL) funding settlement due to unsatisfactory progress on certain conditions.
Action Requested
The statement announces a short extension of TfL's funding settlement by 19 days to July 13, 2022. The government is committed to supporting London’s transport network and continues discussions with TfL for a longer-term capital settlement.
Key Facts
- £5bn funding provided since the start of the pandemic.
- Funding extension from June 24, 2022 to July 13, 2022 due to unsatisfactory progress on conditions like pensions.
- Target date for financial sustainability is April 2023.
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Assessment & feedback
Summary accuracy