TfL facing £80m cuts
The Chancellor's most recent Budget has left (TfL) Transport for London facing cuts of £80 million over the course of the next two years.
As the BBC reports, the capital's transport network will have to address a one per cent cut in its Government grant this year and a two per cent cut the following year.
A Spokesperson for TfL said that no decisions have been made as to how the organisation will meet the reduction, but it is reportedly expecting to do so through driving down expenditure rather than raising funding.
"This represents a significant challenge to ensure we can meet this reduction in our planned expenditure as set out in the TfL business plan," the Spokesperson said.
But London Assembly Green Party member Darren Johnson said that the city's transport system "cannot cope with year-on-year cuts in investment," emphasising the need for passengers to see a return from the higher fares that were introduced at the beginning of 2013.
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