Transport for London (TfL) has published its latest Business Plan, which sets out how it will support London’s economic recovery and increase sustainability whilst achieving operational financial sustainability by 2023/24. 

Across the plan, £8.1bn will be invested in London’s road and rail network, as well as funding to boroughs provided for investment in their streets. The total investment in safe and active travel, across both operating and capital expenditure, will average £150m per year.

The plan will see the delivery of the London-wide Ultra Low Emission Zone to further tackle the triple challenges of air pollution, the climate emergency and congestion. From Tuesday 29 August 2023, the zone will operate across all London boroughs, up to the existing Low Emission Zone boundary. The expansion will be supported by a £110m scrappage scheme to support Londoners.

The plan will see TfL become the ‘green heartbeat’ for London, supporting the Mayor’s ambition for a net zero-carbon city by 2030. Additional funding has been allocated to embed action on environment in TfL’s work, including to cut and adapt to the impacts of climate change on London’s public transport network. The plan also keeps the pathway open to London’s bus fleet being zero emission by 2030. 

The Mayor of London, Sadiq Khan, said: “The past two years have been the most challenging in TfL’s history and the pandemic’s impact on TfL’s finances was devastating. But, following tough negotiations and my commitment to prioritise funding for London's vital public transport, TfL is on track for financial stability, ridership across the network is increasing and there have been major improvements to the capital’s public transport network.

“It is clear there are many challenges ahead, but TfL’s Business Plan sets out how London’s world-class public transport network will continue to contribute to a better, greener and fairer city for all Londoners.”