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TfL to make £4.2bn of savings to fund new transport investment

December 4, 2013 - Martin Hoscik@MayorWatch

SirPeter says the transport networks must meet the needs of London's growing population.
Sir Peter says the transport network must meet the needs of London’s growing population.
Transport for London has set out plans to save £4.2bn over the next 8 years while also investing in the capital’s transport network.

A draft Business Plan published today, and due to be discussed by TfL’s board next week, includes proposals to cut waste and seek better value when letting and renewing contracts.

TfL says it is committed to investing “every penny” in the network, including funding new trains for Crossrail while also improving roads, encouraging cycling and introducing a 24-hour weekend Tube service.

Transport Commissioner, Sir Peter Hendy, said: “We will continue to build on our track record of delivering major infrastructure and expansion projects to further improve London’s transport network and the services we provide to those who live and work in London or visit the capital.

“With London’s population expected to grow from 8.4 million today to around 10 million in the 2030’s, our network must keep pace if London’s success and growth are to continue. 

“Targeted investment and advances in technology will allow us to do this. Every aspect of our Business Plan centres around four key considerations, our customers, delivery, value and our people, coming together to help London maintain its role as a world leading city.”
 
The draft business plan will be discussed at TfL’s board meeting on December 11th which takes place at City Hall from 10am and is open to the public. Papers for the meeting can be downloaded from tfl.gov.uk.

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