HomeIndustry NewsTransport Secretary updates Parliament on his review of TfL’s finances and structure

Transport Secretary updates Parliament on his review of TfL’s finances and structure

The Secretary of State for Transport, Rt Hon Grant Shapps MP, has updated parliament on its plans for a review of Transport for London’s (TfL’s) future financial position and structure.

This review was one of the conditions for the extraordinary funding and financing agreement reached with TfL during the Coronavirus lockdown. TfL was keeping its transport system running for key workers, but the lack of fare income was putting its finances under strain. The Mayor and TfL agreed to the government’s conditions for the funding, which included the financial review.

Rt Hon Grant Shapps MP.

The terms of reference for the review have now been published, and the DfT’s two Special Representatives to TfL’s board have been named as Andrew Gilligan and Clare Moriarty. They will also be able to attend TfL’s Finance and Programme Investment Committees.

Clare Moriarty is a former civil servant and has been Permanent Secretary for the Department for Exiting the European Union and for the Department for Environment, Food and Rural Affairs, and she was previously Director General, Rail Executive and Director General for Corporate Services in the Department for Transport.

Andrew Gilligan advises the Prime Minister on transport matters and worked closely with TfL for 3 years, acquiring detailed knowledge of its operations, as former Cycling Commissioner for London.

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