Comment by mike_hearn

That TFL press release says they rely heavily on subsidies from central government, will continue doing so and that reconfirmation of these central subsidies is a "pressing need". Don't be misled by propaganda from public transport authorities. They always lie about their own economics, unfortunately. It's fundamentally not a form of transport that would exist if it weren't kept alive by governments. The other stuff is all like that too. They are "profitable" if you use a definition of profit that would result in jail time in the private sector.

> The 2023/24 budget has been developed on the assumption that the current funding agreement with Government, which lasts until April 2024, remains in place and is fully honoured, including in relation to adjusting the quantum of support provided to TfL in 2023/24 to reflect latest inflation rates.

While TfL has a current funding agreement with the Government until the end of March 2024, there is also a pressing need for the Government to confirm the £475m that TfL needs in 2024/25 to support the delivery of the committed contracts for rolling stock and signalling on the Piccadilly line and the DLR.

The Government has consistently recognised in the funding settlements that TfL is not expected to fund major capital projects from its operating incomes.