London’s transport faces a future of “managed decline”

TfL is warning that without a solid long term funding agreement from the government, it will be forced to start cutting services within months and look at running the public transport network under a programme of “managed decline”.
TfL is an unusual public transport network, relying on fares revenue for nearly three-quarters of its income, whereas most major city public transport networks receive a much larger portion of their income from general taxation. Outside of London, taxation