Saturday 31 October 2020

With the Prime Minister set to address the nation this evening about possible increased Covid-19 restrictions or a national 'lockdown', LCCI call for a short-term condition-free funding package for TfL - whose emergency funding deal with the Government expires this evening.

Richard Burge, Chief Executive of London Chamber of Commerce and Industry, said: “It is clear that the Government isn’t in the position right now to be focussing the attention on the funding deal that London and its vital transport network requires.

"Given the circumstances, and the possibility of increased restrictions that will see TfL revenue further decline, a month-long emergency funding package with no conditions is the only logical step.”

LCCI and London's local chambers of commerce have called over recent weeks for the Government, City Hall and London's MPs to put politics aside and ensure the short to medium-term deal to fund London's transport network doesn't impact business survival or recovery. Longer-term funding discussion should be the point at which substantial changes, such as Congestion Charge expansion or reform, or fare increases, are considered.