Politics

Transport suffers deepest cuts after London subsidy axed

DfT faces cut of 37% as Transport for London prepares to lose entire operational budget by 2020, fuelling concerns over higher fares

Transport has been dealt the deepest cut to its day-to-day spending of any government department, with the subsidy for London services to be removed entirely.

The DfT’s resource budget will be slashed 37% by 2020. As part of these cuts, Transport for London’s operational budget of almost £700m a year will be entirely wiped out before the end of the decade, leaving TfL to fund its services through commercial investment, cuts or potentially higher fares.

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