TfL facing near £1bn deficit next year after journey numbers fall

Fewer passengers forces London transport authority to ditch some of its tube upgrade plansTransport for London (TfL) has insisted it is not facing a financial crisis despite planning for a near £1bn deficit next year after a surprise fall in passenger numbers.The capital’s transport authority has shelved some tube upgrade plans, with its finances under pressure since the axing of a grant from the UK government worth £700m a year. Continue reading...