According to the Mayor of London, several housing schemes are at risk of not happening due to the TfL funding crisis, including the delivery of 30,000 new homes in Beckton Riverside and Greenwich that would be unlocked by an extension of the DLR towards Thamesmead and Beckton.
Plans for a further 6,000 homes at Colindale station in Barnet, and for a second station entrance at Walthamstow Central to support the major redevelopment around the nearby shopping centre would be affected as well.
Khan stated that without a funding deal, TfL’s Growth Fund — designed specifically to help finance sustainable transport infrastructure schemes to unlock development and regeneration opportunities — could also be compromised.
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“TfL plays an intrinsic role in so many aspects of London life beyond the Tubes, buses and trams; a modern, accessible, future-proof transport system is essential to unlock the genuinely affordable housing that Londoners so desperately need,” said Khan.
“Failing to adequately fund TfL is a dereliction of the government’s duty to our capital city, the people of London and the country as a whole.
“We are in the middle of a housing crisis that cannot be solved if parts of the capital remain cut off from transport links or if vital schemes that improve access to town centres are not able to be delivered.
“There can be no national economic recovery without a London recovery, and there can no London recovery without a properly funded public transport network in the capital, so it’s time for the government to provide TfL with the funding it urgently needs.”