The 2016/17 budget for Transport for London (TfL) will be approved in a meeting at City hall this morning.
The TfL board will decide whether to approve additional funding of £69M for the Jubilee Line Upgrade 2 (JLU2) increasing the total budget to £104.6M. It will also be asked to approve an additional £7.9M for the Northern Line Upgrade 2 project taking the total budget to £11.3M.
The JLU2 project will support the introduction of a 36 train per hour peak service from April 2020, except for 10 additional trains which will be provided via the separate Jubilee and Northern Line Additional Trains project.
The upgrade work includes implementation of power, cooling, track, depot enabling and signalling works with the overall JLU2 business case having been assessed as giving an 8.6 to 1 benefit to cost ratio.
The board will also be asked to give an update on the progress made to date on delivering the ”Cycling Vision Portfolio” and the progress made in the last 12 months against the programme.
Planned attendees include London mayor Boris Johnson, Transport for London board member and ICE President Sir John Armitt, TfL nominee non-executive director on Crossrail Daniel Moylan and Paralympic athlete Baroness Grey-Thompson.
During a closed session of the meeting, the board will receive updates on the Piccadilly Line Modernisation, Bank Station Capacity Upgrade, Jubilee Line Upgrade 2 and Northern Line Uprade 2.