Is TfL in debt?

Answer. As set out in Transport for London's Quarter 3 (Financial year 2018/19) performance report, available online at https://tfl.gov.uk/corporate/publications-and-reports/quarterly-progress-reports, the current total debt is £11.6 billion, of which £10.3 billion is long term debt.



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Total debt (including leases) decreased in the quarter from some small maturities of existing borrowing, which have been refinanced. Our Budget for 2023/24 is to deliver an operating surplus of £79m, demonstrating our achievement of financial sustainability.

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In addition, it does not affect your credit rating in any way. You have the right to challenge the registration of the debt by making an application to file (dependant on the type of contravention), either a Statutory Declaration or Witness statement, Out of Time.

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Key to TfL's success is having a vocal and charismatic mayor to champion the transport agenda and secure political and financial support for it. The Mayor of London chairs the TfL board and currently spends £11bn – two-thirds of his annual budget – on transport via TfL.

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London Underground becomes a wholly-owned subsidiary of TfL.

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The average Transport for London salary ranges from approximately £27,699 per year for Administrative Assistant to £73,565 per year for Software Engineering Manager. The average Transport for London daily wage ranges from approximately £80.00 per day for Business to £391 per day for Senior Data Modeler.

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Decision to prosecute TfL will therefore only prosecute if: a) The evidence shows that there is a realistic prospect of conviction; and b) It would be in the public interest and in the interest of justice to prosecute.

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