The head of transportation for London called for a long-term contract to finance the Government in the UK to replace 50-year-old pipe trains and stop parts of the road and rail network to fall in clutter.
Andy Lord told the Financial Times that he wrote cancer Rachel Reeves to ask for a financial settlement up to five years to finance the spending of TFL on capital projects as part of the Treasury Consumption Audit in June.
London transport administration-Koja runs underground and bus networks, as well as some above ground trains and many main roads-the demand through six short-term rescue from the previous conservative government.
“In my opinion, you cannot manage the world’s largest integrated public transport administration without a long -term settlement on capital financing,” Lord said in an interview.
One of the one TflThe most urgent priorities are the replacement of 53-year-old trains moving on the underground line Bakerloo, the oldest carts in the UK service.
Lord warned that the line was becoming unreliable because the authorities struggled to maintain trains built in the 1970s.
“It will come at a time when we just won’t be able to have enough trains to run a reliable service, which will have consequences,” he said. “We will continue to maintain it as long as we can, but the reality is that it will become more expensive and less reliable.”
TFL is on the road to achieve an “operational surplus” for the second consecutive financial year, which means that it can pay the costs of your own business. But the Government will need money for significant capital consumption to replace trains, restore signaling or opening a new infrastructure.
In the deciduous budget for capital consumption, £ 485 million in the financial year 2025-26 was awarded to the capital consumption in October, but there is no clarity over its funding.
Lord compared TFL pieces of financial settlements with other traffic bodies such as Network Rail, a state operator of British railway infrastructure and a national highway responsible for highways. They are given budgets during the five -year cycles.
But with public finances that swing on smaller than expected excess in January And the pressure to find more money for defense, Reeves faces an increasing background of consumption.
Lord, Commissioner of TFL since 2022, refused to say how much he was looking for. But he warned of the “risk” that parts of the traffic network would become less reliable without a new money.
A serious disorder in the center line of the underworld over the past year is the result of a previous conservative government that has not completely funded the maintenance program, Lord said.
He added that some of the main roads managed by TFL, including the crossing of Brent Cross, were needed by emergency repairs.
“In a moment we have restrictions on numerous core road artery, where it has a direct impact [on traffic]”He said.
TFL ordered 94 new train from the German industrial conglomerate Siemens for the Piccadilly line. They should get into the service next year.
Lord said that TFL would like to set up the next command for the new trains for the Bakerloo line from Siemens, which would also help ensure the future of the factory where they were gathered at Goole in Yorkshire.
TFL also wants to again mean the Piccadilly line to significantly increase the number of trains that can be launched on the line.
Other options that Lord introduced to Reeves included the financing of the main “growth scheme”, including the Bakerloo tunnels further to southern London, and expanding the light railway rail without driver to Thamesmead in southeast London.
“I am encouraged by the positive discussions we lead[about a financial settlement]. . . I am optimistic that we will get the necessary funds, ”Lord said.
Government officials said they were working with TFL on a long-term settlement. The Transport Department said: “The success of the London traffic network is vital for both the capital and the economy of the UK.”
Since Heathrow’s extension to the agenda after Reeves said that the Government would support the project, Lord said that the government or airport would have to finance the upgrades of more billion pounds of the existing traffic infrastructure needed if a third runway was built.
He said that TFL would have to consider additional services on the Elizabeth Line railway connection and upgrade to the Piccadilly line, and both started between Heathrow’s central London to satisfy the increase in air passengers.
The creation of new rail connections to the upgrade of the south and western and the road should also look, he added.
“It cannot be expected that TFL will expand its services to Heathrow from our own money. We just don’t have that funding available,” he said.
In a new shot of TFL finance, Lord said he expects passenger revenue to be lower than intended in his current financial year.
He blamed fewer people traveling than expected and quoted an economic environment and evidence showing that more jobs are created in the outside than in the internal London.
The latest financial figures of TFL, published in December, predict passengers’ revenue of 5.3 billion pounds for the financial year 2024-25, £ 200m less than forecasts.
“I think we have to continue to watch how we can work specially with employers to encourage people to come to town more often,” he said.
The Lord’s comments echo to those of London Mayor Sir Sadiq Khan, who warned about the increase in flexible work. Khan warned this month that the capital “cannot afford” to become a city where the “Center is Entitled”.
However, TFL dictates staff based in the office to be in the office only 50 percent of the time.
“I think a lot of focus on whether people need to be in the office really depends on the sector you are working in. If you do our job, I want people to be out on the network that our customers are on,” Mr. said.
