TfL looks to savings and Crossrail to reverse £1bn deficit

 

Transport for London has insisted that it remains in a sound financial position, with savings making up for falling passenger revenue, despite a forecast deficit of nearly £1bn next year.

The latest data from TfL shows that passenger journeys across its tube, bus, rail and other services were down 1% at 2,284 milllion in the first three quarters of 2017/18, compared to the same period of 2016/18.

”Local
Fewer people are using the Tube

Passenger volumes on the London Underground were 20 million (2%) lower during this period, although TfL said the underlying trend, after adjusting for the later Easter, is 1% lower than the same period last year. Passenger journeys on TfL's buses were also down 1%, while demand across its rail services was broadly stable.

According to TfL’s latest business plan it is forecast to run a deficit of £784m during the current financial year, rising to £968m during 2018/19.

However, the plan forecasts surpluses in 2021/22 (£78m) and 2022/23 (£153m).

A spokesman for TfL pointed out that it had reduced its year-on-year operating costs by £153m in the last financial year and said ongoing reductions will more than make up for below budget passenger revenue.

He said: ‘London is leading the way in showing how you can keep fares affordable, while still investing record amounts in creating world-class infrastructure. Although overall ridership is currently slightly lower than originally budgeted, ridership on the bus, Tube and rail services is regularly outperforming that elsewhere across the country – helped by the fares freeze, the Hopper fare and improved reliability.

‘Through our recently published budgeted and balanced Business Plan, we are continuing to invest record amounts in the transport network to deliver a wide range of improvements and make London a fairer, greener, healthier and more prosperous city for everyone. Our extensive efficiency programme has already helped reduce operating costs this year by £194m and is ahead of budget and more than offsets any reduction in revenue.

‘The introduction of the Elizabeth line [Crossrail] later this year will further improve ridership across the Capital and transform journeys for millions of people.’

 

Also see

Register now for full access


Register just once to get unrestricted, real-time coverage of the issues and challenges facing UK transport and highways engineers.

Full website content includes the latest news, exclusive commentary from leading industry figures and detailed topical analysis of the highways, transportation, environment and place-shaping sectors. Use the link below to register your details for full, free access.

Already a registered? Login

 
comments powered by Disqus
 
 
highways jobs

Team Leader - Highways

Milton Keynes Council
£50,941 - £54,228
Milton Keynes is a place of opportunity. Milton Keynes
Recuriter: Milton Keynes Council

Highways Traffic Development Engineer

Milton Keynes Council
£34,788 - £38,813
Milton Keynes is a place of opportunity. Milton Keynes
Recuriter: Milton Keynes Council

Assistant Contracts Engineer

Milton Keynes Council
£34,788 - £38,813
We are looking for an Assistants Contracts Engineer to be a key senior member of our Contracts Team managing... Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Team Leader - Streetworks

Milton Keynes Council
£39,782 - £43,662
We are looking for a Team Leader to lead our Streetworks Team. Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Traffic Project Officer

City of York Council
£26,875 to £29,783 per annum
City of York Council have a great opportunity for a Projects Officer to join our busy Traffic Team. York, North Yorkshire
Recuriter: City of York Council

Traffic Management Leader

City of York Council
£35,500 to £40,710 per annum
City of York Council have an exciting opportunity for an experienced transport professional to lead our Traffic Team. York, North Yorkshire
Recuriter: City of York Council

Senior Technician (Structures)

Milton Keynes Council
£29,636 - £33,779
With several future projects coming up this is an exciting time for an experienced Senior Technician to join our team.  Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Senior Engineer - Development Management

Milton Keynes Council
£44,632 - £49,298
We are looking for a Senior Engineer to work within our Development Management Team. Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Principal Transport Officer (Policy)

St. Helens Metropolitan Borough Council
£38,813 To £40,760 per annum
This is an exciting opportunity for an energetic and motivated individual to drive forward transport policy to... St Helens, Merseyside
Recuriter: St. Helens Metropolitan Borough Council

Road Safety Officer (Education and engagement)

Milton Keynes Council
£29,636 - £33,799
We are looking a Road Safety Officer to deliver our education and engagement programme across Milton Keynes. Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Road Safety Engineer

Milton Keynes Council
£34,788 - £38,813
We are looking for an experience Road Safety professional to join our team to process and analyse collision and casualty data and to... Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Development Management Engineer

Warwickshire County Council
£37,849 - £39,782 per annum
The successful applicant for this post will be capable of taking the lead on work within... Warwick, Warwickshire
Recuriter: Warwickshire County Council

Project Officers

Buckinghamshire Council
£29121 - £38881 per annum
OverviewCareer graded posts 5-7£29,121 - £38,881 per annumThis is your chance to make a lasting impact on our county. From developing the connected tr England, Buckinghamshire, Aylesbury
Recuriter: Buckinghamshire Council

Permit Coordinator

Milton Keynes Council
£29,636 - £33,799
We are looking for a Permit Coordinator to work within our Streetworks Team. Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Highways Liaison Officer

Milton Keynes Council
£29,636 - £33,799
We are looking for a Highways Liaison Officer to join our Communications and Liaison Team. Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

Clerk of Works

Milton Keynes Council
£29,636 - £33,779
We are looking for a Clerk of Works to join our expanding team, supporting the Senior Engineers to... Milton Keynes, Buckinghamshire
Recuriter: Milton Keynes Council

CCTV Control Room Supervisor

Sandwell Metropolitan Borough Council
£24, 313 - £28, 785 pro rata
We are looking to recruit a supervisor to become part of the management team for our highly successful CCTV Control Room. Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council

Chair of the Board of Directors - Norwich City Services

Norwich City Council
£10,000 per annum
Join Norwich City Services Ltd and transform the way we look after our city and our people. Norwich, Norfolk
Recuriter: Norwich City Council

Team Leader

Buckinghamshire Council
Negotiable
OverviewThis is your chance to make a lasting impact on our county. From developing the connected transport networks of the future and driving sustain England, Buckinghamshire, Aylesbury
Recuriter: Buckinghamshire Council

Commercial Vehicle Technician

Chelmsford City Council
£30,000 per annum
We are seeking a fully trained HGV technician to work as part of the team who maintain the Council's fleet to the highest standards.  Chelmsford, Essex
Recuriter: Chelmsford City Council