Road, tram and ferry projects hit by crisis

Funding

Transport for London has halted work on a number of major transport projects, citing its dire financial position. 

The Croydon Fiveways road remodelling project is one casualty. “Growth and development plans in the area are changing and we’re in discussion with the borough about future plans,” says TfL. Changes to King’s Cross gyratory is another. “We will still complete key safety improvements as part of smaller, targeted schemes.” 

The Bow Vision project to remodel the roundabout and surrounding area is “paused pending clarity on development plans for the site”.  A ferry service for pedestrians and cyclists between Rotherhithe and Canary Wharf is  “currently unaffordable in the context of other walking and cycling priorities”.

 Development work to extend the Tramlink network to Sutton has been paused. “The transport case is poor and there remains a significant funding gap”

Also project is a project to increase capacity at South Kensington Tube station. “Design and development tenders exceeded original project funding.” 

Other projects require additional Government funding. TfL’s ambition to bring forward the date for a zero emission bus fleet from 2037 to 2030 needs £1bn from Government. “Accelerating our ambition to 2030 will secure 3,000 UK green jobs in the North, Scotland and Northern Ireland and could easily see that grow another 20 per cent to 3,600,” says TfL.

TfL wants to install 290 more rapid chargepoints in 2020, requiring £7.5m from Government, assuming 50 per cent of costs are met by the private sector. It also wants £7.5m to fund a further 2,300 on-street residential electric vehicle charging points this year.