The deadline for the final Transport for London bailout deal passed at lunchtime yesterday and, as such, our transport network has since been running without much-needed funding.
While details about what is in the package remain scarce, TfL clearly felt unable to accept it before the deadline due to strings and conditions which could lead to service cuts and the much-feared ‘managed decline’. Even the length of the deal, 20 months, is less than the three years TfL says it needs.
This process raises old questions, not least how ministers expect TfL Commissioner Andy Byford to run a world-class transport network, with all the long-term planning and investments that requires, while essentially operating on a hand-to-mouth basis. Sadly, the political theatre and brinkmanship are indicative of this Government’s attitude to the capital. We’ve heard all manner of promises from both Conservative leadership candidates — now would be a good time to hear how they intend to reset Number 10’s relationship with City Hall, so that both work together for the betterment of Londoners.
The Mayor too needs to bear some responsibility for the deterioration of that partnership while union demands and repeated industrial action have undoubtedly made negotiations more complicated.
Ultimately, a thriving London economy is a prerequisite for national recovery. And the capital, like any great city, runs on its transport network. To continually cripple our capacity through political posturing would represent an act of grievous self-harm.
Energy goalposts shift
The energy price cap was supposed to be a boon for consumers. In 2017, Theresa May said it would “offer fairer prices for millions of loyal customers”. Five years on and few bill payers see it that way.
Today, Ofgem has announced it is to update the energy price cap every quarter rather than twice a year. Were wholesale prices falling, this would mean savings could be passed onto consumers sooner. But they are rising, and therefore so too will the costs.
Cornwall Insight, an energy consultancy, projects that bills will hit a staggering £3,359 per year from October for the average household and not fall below that level until at least the end of 2023. Meanwhile, the Resolution Foundation think tank forecasts that inflation could reach 15 per cent in 2023, driven by rising energy prices.
Whoever wins the Conservative leadership election must surely know that helping households get through this winter, and preparing them for the next, is a top priority.
KFT the Great
After what she described as the worst two years of her life, Katarina Johnson-Thompson has stormed back to win Commonwealth Games gold in the heptathlon.
Following all the injuries, coaching changes and the recent loss of her grandmother, KJT has another Commonwealth gold to add to her collection. And if past results are any indicator, there may be further success to come.
The Liverpudlian built on her previous victory on the Gold Coast in 2018 to win the following year’s World Championships. Who would bet against her doing so again?
