TIDM40CT

RNS Number : 8480S

Transport For London

19 March 2021

Transport for London ("TfL")

19 March 2021

Government Support Package

On 1 November 2021, TfL announced that an extraordinary funding and financing support package (the "H2 Funding Package") had been agreed between TfL and the Department for Transport ("DfT") to contribute towards TfL's forecast funding shortfall, arising from the loss of passenger revenue as a result of the coronavirus pandemic. The H2 Funding Package provides support for the period from 18 October 2020 to 31 March 2021.

TfL continues discussions with the DfT with regards to TfL's need for further financial support and a long-term capital funding deal to enable a strong and robust recovery from the pandemic. On 18 March 2021, the DfT wrote to TfL proposing a short-term extension of the H2 Funding Package to 18 May 2021. TfL is currently reviewing the proposal and will respond in due course.

The terms of the H2 Funding Package can be found below:

https://content.tfl.gov.uk/transport-for-london-settlement-letter.pdf

For further information, please contact:

Transport for London

5 Endeavour Square

London E20 1JN

Email: GroupTreasury@tfl.gov.uk

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