Just some context for those reading the news today:

- it costs more than £1.6bn pa to run transport for a city like London
- London is the only city in Western Europe with a transport system that doesn’t have gov subsidy
- TfL’s grant was removed by previous Mayor.

Some analysis on the second point taken from a report published this week:

And some background to the third point. Penultimate paragraph is salient

Cuts to the London transport grant to hit from 2018 http://www.bbc.co.uk/news/uk-england-london-34923879

Seems a few people are reading this thread now - better clarify first point as well - the £1.6bn “settlement” was just to keep things going on an interim basis - not forever. If you’re interested in the cost of running a system like London’s look here:

http://content.tfl.gov.uk/tfl-annual-report-2019-20.pdf