Last week, TfL announced they were facing a possible £400m shortfall in their finances.
It now appears that TfL haven’t been completely truthful about their budget deficit. (There’s a surprise)
This week an internal email has been leaked to the media which shows that the deficit TfL are facing is well over double the amount stated last week.
The leaked email given to the BBC, describes the finances of TfL, “like a household budget that couldn’t afford to pay the mortgage”.
Insiders at TfL have voiced considerable anger at the scale of the cuts they face.
The email says TfL "will make a loss next year of £968m".
Many senior managers have already left, new Tube trains have been cut and bus services will be reduced by 7%.
Commentators say the organisation is facing a perfect storm financially.
TfL, Totally failing London.....again
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