Budget 2024: London transport and infrastructure

The relationship between Mr Khan and the government has improved since the general election.

At a recent visit to a train factory in Goole, East Yorkshire, the mayor said: “In three months we have seen them give the green light to 350 homes at Cockfosters, a green light to Oxford Street being regenerated and here you have got a £2.9bn investment with trains coming to London next year”.

“If the first three months are anything to go by, I’m hopeful this government understands what’s being invested in our capital.“

Transport for London (TfL) commissioner Andy Lord thinks a long-term funding deal is critical.

“We have been living on short-term funding arrangements,” he said.

“The existing capital funding deal expires at the end of this financial year, so the end of March 2025.

“We only got half of what we asked for from the last government, so I’m hoping with a new government, where there have been positive discussions, that long-term capital funding similar to National Highways and Network Rail give TfL the certainty it needs for renewals and investment.”

Transport Secretary Louise Haigh was asked if she had a long-term funding plan in place for Tfl.

“We will be looking to do that through the Spending Review,” she said.

“It’s really important that areas like London, just like our mayoral authorities across the country, have that long-term stability so that they can plan and, crucially, bring down costs.

“The stop-starts have plagued the industry and have added real uncertainty and real costs to the taxpayer.”

So it seems any long-term deals would be pushed back to the Spending Review in the spring.