'The current state of TfL’s finances, with no clear plan of how to fund it in the future, threatens to result in a very different London public transport system that elsewhere in the country would be wise to avoid.
'Unless solutions can be found to the current crisis, TfL could face deep budget cuts and a halting of investment, the result being a deteriorating service for Londoners. At this rate, not even London will have a ‘London-style’ transport system.'
Read the rest of this blog post about the dangers facing our transport system on the Centre for London's website.
It was in response to “we are already quite full”
Andy H - we didn't "bomb the #####" out of Iraq, Syria and Adghanistan. The UK is in no way responsible for the migrant crisis in the middle east.
We were at war with the former Iraqi regime about 10 years ago. The resulting internal power struggle did displace people but that wasn't due to the UK. We didn't bomb Syria either. The refugees fleeing Syria were escaping the civil war (Government, anti Government and Daesh). In Afghanistan, we spent years and billions of pounds trying to rehabilitate a failed state overtaken by the Taliban.
I'm sure your suggestion doesn't intend to but it does reenforce some of the propaganda used by extremists. More disappointing though is the failure to recognise the efforts of our armed forces in those conflicts particularly those who made the ultimate sacrifice to build a better world.
Hi Micheal ,
Yes , I know, just wanted to keep the thread on track.
Brian, it worries me too, but maybe we shouldn’t have bombed the arse out of Iraq, Syria and Afghanistan. That might have stopped families, with at least a life, crossing a continent.
So, back to TFL . Did you all see that TFL are offering £12mil bonus to the management to keep them on board if they’ll stay and get the accounts to break even. They are haemorrhaging office staff who’ve been given better remuneration and conditions elsewhere?
Market forces at work !
"TFL are offering £12mil bonus to the management"... (andy h)
Well - from the same source: Evening Standard [link]
"However, they will only be paid if TfL achieves its overall savings target and each boss hits their own performance targets.
Any bonuses will not be paid until TfL is no longer dependent on the Government to fund its day-to-day operations, a situation that is expected by summer 2023. Executives will also have to still be working for TfL to receive the bonus."
No time soon, then; publicly audited too.
Not a North Shropshire situation.
And at least this is, I hope, heading back to the original 'London's transport - where next' topic, rather than worthy but disconnected topics more usefully addressed in broader social media than HoL.
Yes I'm a localist and a literalist - but it needs to be said.
A chilling read. I'm in Berlin at the moment, which has a highly effiicient, integrated, publically funded transit network where you are not bombarded with advertisements. (And by the way everyone wears FP2 masks - it's the law.)
Did anyone else notice the reference to Abba's "Waterloo" in the final paragraph's headline?
In a bid to stem staff departures, bosses have ended a year-long freeze on bonus payments that was introduced soon after the start of the pandemic.
TfL is losing a “tsunami of diverse talent” due to the “double whammy” of uncertainty about the organisation’s future funding and the availability of better-paid jobs elsewhere.
As a result, new bonuses will be offered for the current 2021/22 financial year, TfL’s remuneration committee agreed last week.
However, they will only be paid if TfL achieves its overall savings target and each boss hits their own performance targets.
TfL has received almost £5 billion in bail-out grants from the Government and is seeking a fourth deal from December 11.
It has been told to break even by April 2023 — meaning it needs to plug a £2 billion gap in its finances over the next 18 months.
Any bonuses will not be paid until TfL is no longer dependent on the Government to fund its day-to-day operations, a situation that is expected by summer 2023. Executives will also have to still be working for TfL to receive the bonus.
A paper presented to the remuneration committee said the scheme would cost £9.3 million if staff hit 75 per cent of targets and £12.1 million if they achieved 100 per cent.
No bonuses are being paid for 2020/21 and TfL has been told by the Government to freeze salaries while in receipt of the bailouts, which cannot be used to fund bonuses.
TfL commissioner Andy Byford, right, said there was an “indelible link” between pay and the ability to retain staff, adding: “There is a lot of competition for talent.”
A TfL spokesman said: “Any performance award earned would only be paid once TfL achieves financial sustainability and has been designed to ensure that it remains consistent with the terms of our funding agreement with Government.”
Susan Hall, leader of the GLA Conservatives, said: “It’s disgraceful that TfL is planning to splash £12 million on executive handouts while asking for another taxpayer bailout.”
Caroline Pidgeon, a Lib-Dem London Assembly member, said: “Boris Johnson’s Government will now use the prospect of bonus payments as another stick with which to punish the organisation and the millions of people who rely on TfL’s services.”