The extension means TfL services will run as planned until at least the end of the month.
The Department for Transport has provided close to £5bn in emergency funds since May 2020, in response to the impact of the Covid-19 lockdowns.
Mayor of London Sadiq Khan must consult with the DfT over ways to raise at least £500m in additional yearly revenue for TfL from next year.TfL has said that cutting all "uncommitted" Healthy Streets funding, such as for cycling schemes, could save about £500m A TfL spokesperson said: "There is no UK recovery from the pandemic without a London recovery and there is no London recovery without a properly funded transport network in the capital."This is Groundhog Day for the bailout saga, with yet another short-term extension to the existing deal.
There seems to be a sticking point around pension reform, with the government putting pressure on the mayor to make TfL pensions "financially sustainable".The TfL spokesperson added: "Whilst in receipt of government support, we have worked hard to progress all conditions placed on TfL, and continue to maintain that we have met them all.
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