The BBC is not responsible for the content of external sites. Getty Images The latest somewhat indecipherable Transport for London (TfL) budget, says that its £1bn budget deficit is coming down. Transport for London (TfL) has insisted it is not facing a financial crisis despite planning for a near £1bn deficit next year after a surprise fall in passenger numbers. The Bank of England Ponders Proposal, “Confidence in Chaos”? Tube passengers though have started to return and have increased by 0.8%. As part of the cuts, the Department for Transport (DfT) has mothballed plans to roll out contactless ticketing across the region and cancelled more than £100M of future funding. © 2021 BBC. Proposed cuts to government funding for public transport body Transport for the North would “undermine levelling-up” and put planned improvement works at risk, ... TfN’s budget cuts to ‘threaten levelling-up’ ... TfL agrees second government bailout worth £1.8bn. The annual budget to develop Northern Powerhouse Rail has also been frozen at £75M, 33% less than the amount requested by TfN for 2021. The buses are losing passengers because of the amount of traffic in London. Why has South Africa not started vaccinating? On Tuesday, Pritzker announced roughly $700 million in budget cuts, saying the states faces a $3.9 billion shortfall fueled by the pandemic. Appendices Budget 2019/20 Our services . From a supplier perspective, the most obvious near-term beneficiaries are likely to be computer hardware providers (both PCs and servers) and systems integrators. London's bus services are being cut because the government has withdrawn £750m from TFL's operating budget. President Biden inks 15 executive orders, moving to rejoin the Paris climate accord. Human resources and finance functions will be merged, while maintenance on London Underground will be "modernised". In terms of specific projects, the work to refresh and standardise TfL’s access network and WAN infrastructure is due to be completed by the end of the year, and WiFi service improvements will follow soon after. Financial Sustainability Plan As outlined in the October 2020 Funding and Financing Agreement with the Department for Transport (DfT), we have produced a comprehensive plan with options on how we can achieve financial sustainability by 2023/24. Our scorecard, approved by the TfL Board, focuses on critical targets for the year ahead. 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The proportionate loss in TfL’s business rates income next year could be £211m. Who is Amanda Gorman, Biden's inauguration poet? TfL says: "The operating deficit on buses will be £722m in 2019/20, which is the highest bus subsidy in our history.". This is especially true with regard to the transport body’s interest in future intelligent transportation systems (ITS), especially the delayed iBus 2 bus management system and the planned renewing and upgrading of TfL’s road traffic management systems. What's to blame for a fall in passenger numbers? Senior TfL sources have been warning privately for weeks that spending on roads would have to be slashed to meet the budget blackhole. Read about our approach to external linking. Why did Donald Trump pardon rap star Lil Wayne? While the overall reduction in TfL’s ICT spending is paints a negative picture, there are still significant opportunities for suppliers looking to sell to TfL. Trump vows 'we will be back' as he leaves office, Ex-aide Bannon in swathe of Trump pardons, Prada drops actress over alleged surrogacy row. “From a supplier perspective, the most obvious near-term beneficiaries are likely to be computer hardware providers (both PCs and servers) and systems integrators”. While most of these reductions in spending are attributed to cuts … Tech’s Big Beasts Team Up in Bid to Defend the Open Source Oasis: Will It Be More than Hot Air? The ending of the operational grant, cost overruns and delays on Crossrail, a fares freeze and softening customer demand meant that more budget cuts were inevitable. TfL’s strategy has been to establish a unified, interconnected data network for the entire organisation, removing duplication of network footprints and consolidating services. TfL Rail services between Paddington and Reading, which will launch in December 2019. The number of bus passengers continues to decline. 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