Transport for London (TfL) is forming a major capital projects division, according to TfL interim managing director Andrew Pollins.
Speaking at the New Civil Engineer UK Rail conference, Pollins said that TfL’s annual revenue budget was being cut from £700M to zero over the next five years, so a transformation programme was being put in place.
The government announced the cuts in the Autumn Statement last year. It said that these savings could be “achieved through further efficiency savings by TfL, or by generating additional income from the 5,700 acres of land TfL owns in London.”
Pollins went on to say that TfL could not borrow more as there were “strict limits” on amounts it can raise.
Pollins said that TfL commissioner Mike Brown had established a new executive team structure and that he made a public commitment to establish a major capital projects division within TfL. The division, he said, would cover rail projects and potentially major road tunnels, road infrastructure and cycle schemes.
He said that the organisation was also looking to establish a pan-TfL engineering function as well.
“In the past we’ve had pockets of engineers dotted all over the place, in fact I think I even had a couple of engineers in my finance team,” said Pollins.
“So this will be a massive change for the organisation, it’s very important if we’re going to have better value for money for transformation and to drive that transformation agenda.”