Policy paper

Financial review of Transport for London: terms of reference

Information on the government-led financial review of Transport for London

• From: Department for Transport and The Rt Hon Grant Shapps MP
• Published: 20 July 2020

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Terms of reference for the government led financial review of Transport for London

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The COVID-19 pandemic has had an unprecedented impact on Transport for London’s (TfL) revenue and financial position.

To keep vital public transport services running in London and support the economic restart strategy, the government agreed on 14 May 2020 to a funding and financing package to support TfL.

As agreed with the Mayor of London and TfL, the Secretary of State for Transport is taking forward a review of TfL’s future financial position and financial structure to identify options to strengthen its future sustainability.

Published 20 July 2020