Transport for London
|Formation||3 July 2000 (Greater London Authority Act 1999)|
|Legal status||Executive agency within GLA|
|Headquarters||5 Endeavour Square|
|Mayor of London|
|Greater London Authority (GLA)|
|2019–20: £10.3 billion (47% of this from fares)|
TfL has responsibility for various rail networks including the London Underground and Docklands Light Railway, as well as London's buses, taxis, principal road routes, cycling provision, trams, and river services. It does not control all National Rail services in London, although it is responsible for London Overground and TfL Rail services. The underlying services are provided by a mixture of wholly owned subsidiary companies (principally London Underground), by private sector franchisees (the remaining rail services, trams and most buses) and by licensees (some buses, taxis and river services). TfL is also responsible, jointly with the national Department for Transport (DfT), for commissioning the construction of the new Crossrail line, and will be responsible for franchising its operation once completed.
In 2019–20, TfL had a budget of £10.3 billion, 47% of which came from fares. The rest came from grants, mainly from the Greater London Authority (33%), borrowing (8%), congestion charging and other income (12%). Direct central government funding for operations ceased in 2018. In 2020, during the COVID-19 pandemic in the United Kingdom, TfL sought urgent government support as fare revenues dropped 90%, and proposed near 40% cuts in capital expenditure.