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

Transport for London also lost a government grant worth £700m, which unions want reinstated.Transport 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.