DfT faces cleave of 37% as Transport for London prepares to lose entire operational budget by 2020,fuelling concerns over higher faresTransport has been dealt the deepest cleave to its day-to-day spending of any government department, with the subsidy for London services to be removed entirely. The DfT’s resource budget will be slashed 37% by 2020. As part of these cuts, and Transport for London’s operational budget of almost £700m a year will be entirely wiped out before the terminate of the decade,leaving TfL to fund its services through commercial investment, cuts or potentially higher fares.
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Source: theguardian.com