TFL directors call emergency meeting due to Coronavirus catastrophic hit on finances

Tfl held a briefing yesterday afternoon, Directors gave a talk on the impact that the Corona virus pandemic was having on the revenue and finances of Tfl.

Directors told the meeting that they have been hit catastrophically, by the huge loss of revenue. TfL went on to say that they are also spending £600million every 4 weeks, just keeping Tfl operations afloat.

Tfl said they have been in talks with the government, looking for financial support.  They said that those negotiations are still in hand.

Emergency company councils have been called today. 

John Leach of the RMT Union, told the meeting that whilst we are all rising to the challenges of the crisis, we will not allow any of this to be an attack on our hard won terms, conditions or wellbeing at work.

Since Sadiq Khan took the helm as Chair of TfL they have slid into a £1billion deficit. Most of the money wasted on vanity projects. 

TfL have proved beyond a shadow of a doubt, they are unfit for purpose, with their management of TfLTPH. 

We now have a foreign registered company that is currently facing charges in the high court for failing to pay £1.4billion in VAT...money that would have come in very handy in this present emergency. 

This company has had more customer complaints, more customer account hackings, more fraudulent licence acquisitions, more driver/passenger rapes/sexual assaults in its original 5 year licence term, than all the other private hire companies in London put together. 

Although TfL refused to relicense this company twice, they stopped short of revoking the company’s licence (mainly because they were scared of facing their legal team). 

One of the worst affects of this pandemic lockdown, is that Khan and his completely

Inadequate mayoral team, will reign for an extra year.  

TAXI LEAKS EXTRA BIT :

Is it not time for the government to step in and break TfL up into more manageable units. 

The public carriage office under the metropolitan police reigned supreme for 150 years (1850-2000). When TfL took the helm, there was somewhere in the region of 30,000 minicabs. Now, we face competition from nearly 120,000.

With the responsibility for Taxi and Private Hire transferred to TfL, in just 20 years, the London Taxi trade has been virtually bought to its knees, trying to survive while TfL handed out Private Hire licenses like sweets, in an attempt to claw back much needed funds. 

It apparent that the present corrupt system isn’t working, and there’s no room for both the licensed Taxi trade and a bankrupt regulator.