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The UK Government and Transport for London have confirmed a funding package worth around £1.08bn to ensure the transport network in London has the support it needs during the pandemic.
Financial support will be provided up until 11th December 2021.
This weeks announcement follows on from support packages announced in April and October 2020 and takes the funding for Transport for London since March 2020 to over £4bn.
The deal aims to set out more measures to be taken to make sure Transport for London is “financially sustainable” by April 2023.
Transport Secretary Grant Shapps said: “This £1.08 billion financial package will support London and its transport network through the pandemic, and ensure it is a modern, efficient and viable network for the future.”
“Throughout this process, the government has maintained that these support packages must be fair to taxpayers across the UK and on the condition that action is taken to put TfL on the path to long-term financial sustainability. As part of today’s settlement, the Mayor has agreed to further measures that will help ensure that.”
This article first appeared on www.railadvent.co.uk
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