TfL funding crunch could cost London over £12 billion over next decade

A policy of funding TfL to the level that it can just about survive under a programme of “managed decline” could cost the London economy around £12 billion over the next 10 years, according to a joint report by Transport for London and GLA Economics.
This is not direct cash in the sense of loss of fares income and the like, but wider economic costs through secondary effects of a weakened transport network leading to more congestion, delays and lost investment opportunities.
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