The PS1.2bn taxpayer bailout of London’s transport system announced on Tuesday isn’t enough to prevent new Tube strikes and further suffering for commuters, Sadiq Khan has warned.Tube Strikes.Mr Khan who is the capital’s mayor has said that commuters across the city are likely to suffer fare increases along with service cuts and additional industrial action despite a deal among Transport for London (TfL) and the ministers on a rescue plan to ensure the service is able to continue for 2024.Mr. Khan warned that commuters have to contend with fare hikes and reductions to bus services.
The deal is “far from ideal”, saying that ministers were trying to trigger further industrial actions by implementing the agreement. It will oblige him to the process of introducing trains that are driverless that will be operated by the London Underground and seek pension reforms.Mr Khan stated that there could remain an PS740m gap in funding for TfL’s budget in twenty months.
A dispute over job opportunities and pensions has led to a strike actions across TfL services over the last couple of weeks.The transport authority is heavily dependent on tax payer money to maintain services following the outbreak and the number of passengers struggling to get back prior to levels pre-Covid.
The Government claims that its assistance is now more than PS6 billion. The funding package is the fifth bailout TfL has received since the start with the outbreak in.The PS1.2bn of assurances from taxpayers will allow TfL to allocate PS3.6bn to investments such as the construction of brand new Piccadilly line trains, modernisations and upgrades like support for the repairs of Hammersmith Bridge and extension of the Northern line.
Grant Shapps, the Transport Secretary stated: “For over two years in the past, we’ve repeatedly demonstrated our unwavering dedication to London and the network of transport it relies on, however we must be fair to all taxpayers across the nation..”This package is more than a bargain for Londoners and is even in line with the mayor’s pre-pandemic spending plans, but in order for this to succeed, the mayor has to deliver on his pledges to put TfL back to a solid financial footing. Stop using Government bailouts, and accept responsibility of his choices.”Now is the time to put politics to one side and get on with the job – Londoners depend on it.”
Mr Khan has been at war in the past with both the likes of Shapps along with Boris Johnson on numerous occasions since the beginning of the epidemic over the shambles situation of the finances of TfL.
The government claims it is The Labour mayor is responsible for the huge gap in the finances of the authority as a result of voter-friendly promises like a fare freeze made when Khan was in power. Khan became the mayor in the year 2016.Andy Byford, the commissioner of TfL The TfL commissioner said the money would allow for major cuts to services. He also said it will allow the TfL to make a commitment of PS3.6bn for capital investments from now until March 2024.
