Why TfL needs a second bailout

Some say that coronavirus is the only cause of TfL’s financial troubles. But that’s inaccurate.

If TfL had been managed efficiently over the last four years, the Mayor of London would have had more than enough money to cover the cost of the first bailout.

Cost of coronavirus versus cost of Sadiq Khan’s mismanagement — 2016-2020

Coronavirus caused a big drop in fare revenues. But that drop doesn’t compare to the costly spending decisions made over the last four years.