HS2 flagship station under threat as Sadiq Khan implements vital upgrades Business

An extension of the Docklands Light Railway is also at risk, the report concludes.

Crossrail 2, a £ 40 billion north-south line project and an extension of the Bakerloo underground line have already been put on hold.

Mr Khan had sought a £ 15.8 billion long-term funding deal to fix TfL’s finances and allow it to make a series of much-needed upgrades.

The authority, which relies about twice as much on tariff revenue as cities of similar size overseas, has been hit hard by the pandemic. It has already received nearly £ 4 billion in donations from taxpayers.

But the government has instead offered £ 1.08 billion to keep the metro, trains and buses running until December. In return, Khan agreed to examine the feasibility of driverless metro trains, increase fares and reduce costs.

A spokesperson for Transport for London said: “We continue to work with the government on our longer term funding so that we can effectively plan for London’s future. We are making transformative additions and improvements to the entire transportation network, such as completing the Elizabeth Line, extending the North Line, extending from London Overground to Barking Riverside, new signage on the Circle, District, Hammersmith & City and Metropolitan lines, and the Bank Station Upgrade.

“Our Financial Sustainability Plan, released in January of this year, sets out what we need to deliver and describes how the certainty of long-term funding will allow us to do so economically and efficiently. However, the development of new large projects, vital for decarbonization, improving air quality and supporting new housing and jobs, depends on the outcome of discussions on our longer-term funding.