Tfl business plan investment programme

Tfl hr strategy

The Mayor has also renewed his call on the Government to quickly accept that London gets its fair share of the National Infrastructure Commission's recommended spend on infrastructure of 1. This will increase the service to 32 trains per hour through the central London sections, meaning customers will wait less than two minutes for a train during peak times. Latest figures from TfL also show that, against a cautious set of forecasts in its last annual budget, overall fare revenue is up two per cent compared to last year, just above expectations. Accountable for commercial strategy and supporting policy. The recent announcement by Crossrail Ltd that there will be a delay to the opening of the Elizabeth line has also meant that TfL needs to pay for the additional capital investment to fund the completion of the line and also absorb the impact of lost fare revenue. That financial pressure has been compounded by the extremely disappointing news about the delay to the opening of the Elizabeth line. Continuing to develop plans to build Crossrail 2 and extend the Bakerloo line, the DLR and tram networks in the next 20 years, which will support the creation of thousands of new homes and jobs across London and the south east. This will be offset by our continuing savings and revenue growth programmes and allocating a small proportion of our business rates funding to operating account. Bringing into service the Elizabeth line, which will transform journeys across London and out to Reading and Shenfield, with quicker and easier journeys and mark a step-change in accessibility with 41 step-free stations. To achieve these savings, more than 30 business areas have been redesigned, creating a leaner, simpler structure. We aim to do this in , after the second full year of operating the Elizabeth line. Since March , TfL has become one of the only transport authorities in the world not to receive a direct Government operational grant for day-to-day running costs. This has been successful in reducing our operating deficit as we work towards creating a surplus over the next five years.

A subdued economy across the UK has slowed down ridership across the country and reduced fare revenue. In addition, the timing of some transport schemes will need to be confirmed once the level of capital investment available is known and a prudent view has to be taken in the interim.

That financial pressure has been compounded by the extremely disappointing news about the delay to the opening of the Elizabeth line.

tfl annual report 2017

The plan, which focuses primarily on how the organisation will move from a position of soaring operating costs to break-even, outlined how TfL will need to become significantly leaner and more cost-effective.

Unlocking land for the development of new homes and actively making smarter use of TfL assets - including improved retail units and innovative digital advertising - to generate greater long-term revenue.

tfl annual report

This will remain an intense area of focus over this next period. To lead the strategic and operational development of finance and commercial management across TfL to ensure reliable, high quality back office support services.

tfl ridership

TfL also expects to make substantial savings across current contracts through rationalisation, consolidation and improved contract management.

TfL continues to reduce operating costs across the organisation and will continue to forge ahead with its work to make the organisation more efficient over the coming five years.

Tfl advertising revenue

This revenue will be reinvested back to support the modernisation of the transport network. Since March , TfL has become one of the only transport authorities in the world not to receive a direct government operational grant for day-to-day running costs. It also intends to chop spending on consultancy and non-permanent labour. A new Crossrail Ltd management team under Mark Wild's leadership is now working to establish a robust, deliverable schedule before committing to an opening date. Read more: Sadiq Khan dealt blow by Grayling: TfL won't take over Southeastern in The plan includes modernising several major Underground stations, bringing forward plans to extend the Bakerloo line and investing "record amounts" in cycling and cleaning up London's air. Continuing to make vital radical air quality and environmental improvements across London, including the implementation of the Ultra Low Emission Zone from April and making the entire bus fleet Euro VI compliant by September Evidence suggests that the benefits of the Mayor's freeze of TfL fares has helped cushion London from the severity of impacts seen elsewhere around the country.

The recent announcement by Crossrail Ltd that there will be a delay to the opening of the Elizabeth line has also meant that TfL needs to pay for the additional capital investment to fund the completion of the line and also absorb the impact of lost fare revenue.

The Mayor has also renewed his call on the Government to quickly accept that London gets its fair share of the National Infrastructure Commission's recommended spend on infrastructure of 1. Evidence suggests that the benefits of the Mayor's freeze of TfL fares has helped cushion London from the severity of impacts seen elsewhere around the country.

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TfL Board approves large investment › Transport for all › Accessible Transport in London