By Ilaria Grasso Macola
The new TfL management team needs to stay focused on the government’s long-term funding, according to outgoing commissioner Andy Byford.
Byford – who will step down at the end of today after two years at the public body’s helm – will be replaced by chief operating officer Andy Lord from tomorrow on an interim basis.
Lord will be supported by Crossrail’s current chief finance officer Rachel McLean – who will take over as managing CFO on 31 October – as well as by TfL’s director of management and resilience Glynn Barton, who takes over Lord.
“So my advice to Andy [Lord] would be to stay focused on the conditions of the funding deal [and] to make sure we deliver on that deal, because that’s our best opportunity of convincing government to give us an even longer-term deal, which is what TfL needs for the future,” Byford told City A.M.
Agreed at the end of August after months of strenuous talks between ministers and City Hall, the 20-month deal will keep the capital’s transport network going until the spring of 2024.
Under the agreement, TfL will receive an additional £1.2bn base funding, supporting almost £3.6bn worth of projects.
The deal will also spare TfL a “managed decline” scenario, which included a raft of cuts to bus and Tube services, after the network’s pockets were emptied during the pandemic.
“It’s no exaggeration to say that [the funding deal] saved TfL,” Byford added.
Nonetheless, the funding relies on measures such as TfL reforming its pension scheme.
This has been at the centre of disputes with unions, whose workers have walked out several times over the last few months.
“I do understand that people are concerned about pensions, but all we have agreed to look at are options, not proposals,” Byford added.
“I implore my colleagues to think before they take that action, it’s not necessary and I think it will just drive us back into the government’s hands and more conditions, and I don’t think anyone wants that.”
The new strike action on London Underground and Overground services will take place on 3 and 5 November.
City A.M. has approached the unions RMT, Unite, Aslef and TSSA for comment.
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