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Mayor claims London transport loses out on cash

City Hall London

Mayor of London Sadiq Khan has defended London’s comparatively high transport expenditure in a new economic report from the Greater London Authority (GLA).

In a speech to delegates at an infrastructure forum this morning (Thursday), Khan argued that despite receiving more than a quarter of the UK’s overall transport expenditure, London is still left behind.

Khan added the Transport expenditure in London report shows “in no uncertain terms that our city doesn’t get its fair share of investment for transport compared to the rest of the country”.

Public sector spending on London’s transport reached £8.5bn last year. Almost half of Transport for London’s (TfL) budget comes from fare contributions, while some projects such as the Northern Line extension are paid for in developer contributions and growth-led business rates.

A London Strategic Infrastructure Needs report from Arup was also released at the forum, detailing key infrastructure projects needed in London until 2031 to drive growth across the capital.

Khan announced an industry infrastructure group is being set up to lobby government for more infrastructure investment in the capital. Although details of all the members of the group have not been released so far, it will be chaired by deputy mayor for planning, regeneration and skills Jules Pipe.

“Today I’m pleased to announce that I’ll be convening a new high level group to oversee infrastructure development across London. This group will connect City Hall directly with key players in the industry…to learn how we can respond to the challenges and opportunities at this historic time of growth.”

London’s population will hit 9M by 2020 and 10M by 2030. In 2015-16 the capital raised more in taxes than it received, generating £136.7bn but receiving £110bn.

 

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