Transport for London to get £1,800,000,000 bailout

Sadik Khan said he now has a deal with the government.

The transport to London provided the rescue in order to continue the operation until the end of March 2021.

The exact amount will depend on passenger revenue in the coming months, but will be around £1.8 billion.

TfL said: Discussions on long-term sustainable financing will continue.

Under the new operation, the changes to congestion charges introduced under the previous rescue operation – a 30% increase in charges and longer working hours – will be maintained in June.

The Mayor of London, Sadick Khan, said last month that the government wants TfL to extend its toll zone to the northern and southern bypasses to reach some four million Londoners.

Other proposed measures, which Mr Khan described as ill-considered and draconian, include raising public transport fares above the rate of inflation.

THAT IS NEW: We have an agreement with the government. That’s what it means to Londoners:

Children under 18 and over 60 years are protected by
â The congestion zone will not be extended
â TfL rates will be increased by more than already agreedhttps://t.co/GMKAnSOeKy pic.twitter.com/dRFUZmdVQv.

– Sadiq Khan (@SadiqKhan) 1. November 2020.

Commenting on the new agreement, Mr Khan said that the negotiations were a terrible and completely unnecessary distraction at a time when all attention should be focused on slowing down the spread of Kovid-19 and protecting jobs.

He moved on: I’m glad we managed to destroy the government’s worst offer.

These government proposals could influence Londoners by significantly increasing congestion prices, abolishing the free movement of older and younger Londoners and increasing DWT charges by more than RPI+1.

I thought none of this was going to happen.

It’s not a perfect match, but we fought for the best place.

The only reason why TfL needs the government’s support is because almost all of our customs revenue has dried up since March because the Londoners did the right thing.

said Andy Bayford, Commissioner for Transport in London: The conclusion of this agreement with the government will allow us to help London in this new phase of the pandemic.

We will continue to work with the mayor and the government on our long-term financing needs.

As always, our employees work tirelessly to serve the people and economy of London by supporting the city’s economy and providing excellent, safe and reliable service to our customers every day.

TfL has stated that it will receive a principal of £1 billion, consisting of a grant of £905 million and a loan of £95 million.

Last month, Boris Johnson claimed that TFL was in fact bankrupt for the coronavirus and that the charges for trespassing were entirely Khan’s responsibility.

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