Kiama Municipal Council has announced a Financial Sustainability Plan to refine and deliver its Long Term Financial Plan, which is designed to address.
TfL finances improve - but £500m funding gap remains 30/07/2021 in Network
Transport for London’s funding gap will be lower than expected - but a £500 million shortfall still remains in the latter part of this financial year.
The capital’s transport authority published its revised budget on July 26. TfL now assumes a full-year funding requirement of £1.9 billion, down from £2.7bn in the March 2021-22 budget.
Of this, £1.4bn has already been secured through the recent funding agreements with Government. The £500m gap covers the period beyond the December 11 end date of the existing funding agreement.
Prior to the pandemic, fares made up around 70% of the operating budget. Passenger numbers in the UK capital remain depressed, although total journeys have now reached some 54% of pre-pandemic levels (this rises to 60%-65% at weekends.
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