TRANSPORT for London (TfL) has announced an extension of its funding agreement with the British government to May 28 to allow discussions around future funding arrangements to continue.

TfL was allocated £485m of emergency funding in March as part of a wider £518m funding allocation from the government to support urban transport operators through Britain’s third national lockdown. However, this funding was due to expire on May 18.

The funds comprised £260m of base funding, alongside additional revenue support of approximately £225m, to be paid subject to the level of passenger revenue received between April 1 and 18. The funding was in addition to a previous round of funding worth £1.8bn for the second half of the 2020-21 fiscal year, which commenced on November 5.

“We continue to discuss our funding requirements with the government and hope these discussions can be concluded successfully soon to enable a strong and robust recovery from the pandemic,” a TfL spokesperson says.