TfL on course to ‘break even’

Transport for London (TfL) has published is proposed Budget 2016/17 and Business Plan.

To mitigate a reduction in Government funding, TfL is implementing measures both to reduce expenditure and to increase income.

These include projects to generate new commercial income and grow existing revenue streams as well as to reduce operating costs.

The objective is to reach break-even on direct operating costs by 2018/19, earlier than anticipated in the 2014 Business Plan. TfL is seeking to reduce operating costs by nearly 9% over the next five years.

In the long term, it expects the number of bus passengers to “continue rising”, reaching about 2.6 billion per year by 2022. Bus kilometres will increase by 0.8% to 498m in 2016/17.

Satisfaction with the network is expected to score 85 out of 100 in 2016/17.

Download the Budget at http://goo.gl/cReKxM