Another day and another issue regarding the mismanagement of London by the Mayor himself…Mr Khan. He is now asking for a government bailout of the TFL stating that without government funds it will grind to a halt….WHAT>>>>
London has one of the largest budgets for a city and what is he doing with all the money? We know he is not spending it on more police as there are more stabbings and murders of young people in London, and god forbid they bring in stop and search…that’s racist according to this Mayor and now it is the murder capital of Europe…so what is he doing with the money from the taxpayers as there are millions of people living in London.
From the Mayor’s budget 2020/2021
Transport for London funding agreement with the Department for Transport In 2020-21, the GLA’s retained business rates funding baseline is assumed to continue to include £1,010 million in respect of the investment grant formerly paid by the Department for Transport (DfT). However, the Mayor has agreed that TfL can temporarily top-slice this sum by £100 million to help manage pressures on its revenue budget. Following an agreement between the Mayor and the Secretary of State in March 2017, this grant has been funded since 2017-18 through retained business rates. DfT set out their expectation that funding at levels equivalent to the investment grant set out in the 2015 Spending Review settlement should continue to be spent on capital projects.
The business rates allocation to TfL for 2020-21 is in line with the final year of TfL’s Spending Review settlement. The Government has not yet confirmed any funding levels for TfL – including for capital investment – within the rates retention system beyond April 2021.
The grant previously paid to TfL for London Overground Rail Operations Ltd (LOROL) will no longer be paid from 2020-21. TfL receives other revenue and capital specific grants for specific programmes and projects which are agreed and paid separately including Crossrail.
This is the budget expenditure for London 2020/2021 and it is in the MILLIONS……..
GLA Mayor 464.2
GLA Assembly 8.6
Net revenue expenditure 5,415.0 he has all this money….what is he doing with it?
The Government should not be responsible for bailing out TFL because of the mismanagement of the Mayor and his staff as it would set a precedence and the Government would be forced to bail out every failing transport company.in individual boroughs.
Transport in London has had more spent on it per person than in the North and this can be as much as £1300 per person difference and yet the hands are held out again and again, but sorry Mr Khan it is the turn of the North now. Find the money through the reserves you have …. you know the money you are refusing to use but instead shout endlessly about the lack of funds …..shocking that you will refuse to use it in a time of crisis.
The Government itself has stated that councils are currently sitting on £22.5 billion during this time of crisis and are not using it to bail out companies and transport….infact they are not using it all.
The problem is that you have a man running London who is out of his depth in a role that the current PM took and run with it and made it successful, but all Khan does is back the most ridiculous of projects and he is not listening to the people at all. When are they going to get rid of this Mayor as he is not fit for the role and they need to bring in somebody who manage the role better before he bankrupts the whole of London, and the transport goes down the pan leaving the dedicated key workers in an even bigger struggle of trying to get to work.