UK: The Department for Transport provided Transport for London with a draft proposal for a long-term funding settlement on the evening of July 22.
The most recent extension of TfL’s extraordinary funding and financing agreement is due to expire on July 28.
TfL said it would review the government’s proposal and provide a further update in due course.
‘No agreement has yet been reached and we must make sure that the proposal is fair and that the conditions are realistic and deliverable’, said London’s Transport Commissioner Andy Byford. ’We will respond to the government as soon as possible.’
