Transport for London (TfL) is to restart work on major infrastructure projects this month, including the £655M upgrade at Bank station and the Northern Line Extension. TfL applied a “safe stop” to its major project activities at over 300 construction projects in March, following the coronavirus lockdown which resulted in a major downturn in TfL revenues.
However, work will now restart on ongoing projects after TfL agreed a £1.6bn funding package with government. Despite work starting on most projects, TfL has announced a £525M decrease in its capital spending programme for 2020/21, in an Emergency Budget proposal released ahead of this week’s board meeting.
Under the revised budget, annual spending on new capital investments will be reduced from £1.3bn to £808M. Spending on its renewals programme has also been reduced by £201M, down from £531M to £331M.
Major projects set for a “phased restart” in June include the 4LM project (to upgrade the Circle, District, Hammersmith & City and Metropolitan lines), the Northern Line Extension, the upgrade at Bank station and the Silvertown and Barking Riverside project.