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Oxford Street Buses - © Tom Ball
Multi-billion pound funding package for London's transport network confirmed
The government has confirmed that £39 billion will be available for renewal and expansion of London's transport network in the period up to 2017/18. This will cover Crossrail, modernisation of the Tube, Olympic preparations, expansion of rail and bus services, and programmes to promote walking and cycling.The announcement by Secretary of State for Transport Ruth Kelly stems from the recent Government Comprehensive Spending Review. TfL will receive £33 billion in grant from the Department for Transport, and will be allowed to borrow a further £6 billionRead more