• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer

MayorWatch

London News and Comment

  • NEWS
  • COMMENT
  • CONTACT
  • Twitter

TfL outlines ambitious plan to increase non-fare revenues

April 18, 2013 - Martin Hoscik@martinhoscik

The proportion of revenue raised by Transport for London from commercial activities is set to increase under ambitious new plans presented to the London Assembly earlier this week.

On Tuesday the Assembly’s Budget and Performance Committee heard how TfL is drawing up plans to become a major residential and commercial landlord by developing its landholdings in-house rather than selling them off to developers.

The organisation is also planning to revamp the retail spaces available in Tube stations.

One proposal could see services such as Amazon Lockers installed, allowing passengers to collect on-line purchases on their way to and from work.

TfL will also work with existing tenants, largely independent retailers, to make retailing on the Tube network more attractive, including by reviewing the use of tenancy review clauses in leases which serve as a disincentive to investment.

Graeme Craig, TfL’s Commercial Development Director, told Assembly Members it would also be open to leasing space to major brands, but stressed the importance of small and local traders to TfL.

Moves to increase the level of non-fares revenue collected could allow the Mayor and TfL to hold down fares or lessen the impact of future increases by providing an alternative long-term funding stream.

Mr Craig also used his appearance before AMs to update them on a new draft sponsorship code.

As previously reported, the new code is promised to make accountability and public transparency core in any future sponsorship deals, allowing fare and taxpayers to better scrutinise contracts.

The agreement of confidentiality clauses in TfL’s contract with Barclays for sponsorship of the cycle hire scheme means mush of the contract’s scope is kept secret from Londoners and AMs. Mr Craig told the committee that “discussions continue” with Barclays about placing more information in the public domain.

The draft code binds TfL to the four key principles:

Principle 1: The Authority may only enter into sponsorship arrangements when it is in its best interest to do so.

Principle 2: Sponsorship arrangements may only be entered into when it is lawful to do so.

Principle 3: Sponsorship opportunities must support or further the Authority’s objectives and priorities.

Principle 4: Sponsorship must represent value for money and any benefits conferred on the sponsor must be proportionate to the value of the sponsorship.

In drawing up the new code, TfL has implemented the majority of recommendations contained in the 2012 Assembly report, ‘Whose brand is it anyway?’.

The promise of a new, more transparent approach to sponsorship was welcomed by committee Chair John Biggs.

However Mr Biggs said his committee “will be taking a close look at TfL’s strategy following its autumn publication to ensure TfL gets the best deal for the millions of Londoners that travel on the network every year.”

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to print (Opens in new window)
  • Click to email this to a friend (Opens in new window)

Related

Tagged With: Fares

Comments

  1. ASLEF shrugged says

    April 19, 2013 at 5:48 pm

    Actually cells would be illegal at Section 12 stations, all doors have to open from the inside even when locked from the outside.

RECENT UPDATES

Sadiq Khan announces extra £50m to clean up commercial fleets and taxis

Sian Berry selected as Green Party’s 2020 candidate for London Mayor

London Underground introduce new ‘Here to Help’ vests to boost staff visibility

Government awards London £7m for new electric buses




Popular

TfL urged to explore Tube station sponsorship deals after poll shows public backing

TfL confirms plans to axe of shorten dozens of London bus routes

Noise from London’s heliport could pose health risk to residents says study

Social housing tenants gain veto over estate demolitions after new City Hall rules come into effect

FEATURED

TfL planning return of annual fare hikes as agency looks to balance books following Crossrail delay

TfL set to extend Cubic’s contactless fares licensing deal after netting £15m in royalties in just two years

TfL warns budget cuts could force it to close key roads, tunnels and bridges

Transport for London tells board it lacks the cash to deliver Sadiq’s transport vision

GOT A STORY?

As the original London news and scrutiny site we've been casting an eye over the capital's public services and politicians since 1999.

 

Many of our top stories started with a tip-off from a reader - if you've got something you'd like us to cover get in touch and we'll do the rest.

Stay In Touch

  • E-mail
  • RSS
  • Twitter

Copyright © 2019 MayorWatch Publications Limited · MayorWatch is Registered Trademark · All Rights Reserved · Contact Us · Terms of Use · Privacy Policy

MayorWatch Publications Limited · 20-22 Wenlock Road · London N1 7GU · Company Number 6291816

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.