TfL Announce £148m Funding for Transport Transformation
Posted on: 04/01/2016

TfL and London mayor Boris Johnson have announced a funding of £148m to London’s councils to help improve works on the city’s roads and public spaces between 2016 and 2017. The funding will go towards a £1.4m Bank Junction transformation, £6.4m towards improved cycling routes and public space, and £4.8m to Croydon, including £550,000 towards its high street improvement scheme.

Speaking of the funding, Boris Johnson said, “This latest round of funding will help to transform scores of locations in all four corners of our great city.

“It is specifically targeted to help make our roads, town centres and open spaces more attractive places with better facilities for walking and safer cycling. By helping the boroughs deliver on important local transport schemes, we can help to spur jobs and growth across London.”

TfL’s annual borough funding helps the boroughs pay for local transport projects set out in their Local Implementation Plans (LIPs), which also show how the boroughs will support the mayor. Mike Brown, London’s transport commissioner, said: “Londoners will see real improvements to their local areas as a result of this funding.

“Working with London boroughs, hundreds of transport projects will be delivered that will benefit pedestrians and road users, through safer streets and improved public squares and shopping areas. These improvements will help transform communities and boost the local economy.”

Transport bosses have pledged £148 million to help London’s 33 local councils carry out improvement works to roads, junctions and public spaces. The overall 2016/2017 LIPS budget has also allocated £28m to major schemes, £8.9m to bridge strengthening, and £1m for principal road maintenance emergency works and condition surveys. The funding amount has remained at the same amount as last year, though the amounts given to each borough are different.

A spokesman added: “The annual borough funding is provided by TfL to help the boroughs pay for local transport projects set out in their local implementation plans, which show how the boroughs will support the Mayor’s transport strategy.”

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