Annual Report and Statement of Accounts 2017/18 About Transport for London (TfL) Contents Part of the Greater London Authority We are moving ahead with many of family led by Mayor of London Sadiq London’s most significant infrastructure Khan, we are the integrated transport projects, using transport to unlock authority responsible for delivering the growth. We are working with partners Mayor’s aims for transport. on major projects like Crossrail 2 and the Bakerloo line extension that will deliver We have a key role in shaping what the new homes and jobs London and 4 Message from the Mayor 92 Remuneration Report life is like in London, helping to realise the UK need. We are in the final phases the Mayor’s vision for a ‘City for All of completing the Elizabeth line which, Londoners’. We are committed to creating when it opens, will add 10 per cent to 6 Commissioner’s foreword 126 Statement of Accounts a fairer, greener, healthier and more London’s rail capacity. prosperous city. The Mayor’s Transport 8 Year at a glance 318 Annual Governance Statement Strategy sets a target for 80 per cent of Supporting the delivery of high-density, all journeys to be made on foot, by cycle mixed-use developments that are or using public transport by 2041. To planned around active and sustainable 10 The strategy and vision 328 Executive Committee make this a reality, we prioritise health travel will ensure that London’s growth and the quality of people’s experience is good growth. We also use our own 12 Operational performance 330 Members of TfL in everything we do. land to provide thousands of new affordable homes and our own supply We manage the city’s red route strategic chain creates tens of thousands of jobs 16 Safety and security 332 Directors of Crossrail Ltd roads and, through collaboration with and apprenticeships across the country. the London boroughs, can help shape 30 Healthy Streets and healthy people 334 Membership of TfL committees the character of all London’s streets. We are committed to being an employer and panels These are the places where Londoners that is fully representative of the travel, work, shop and socialise. community we serve, where everyone 46 A good public transport experience Making them places for people to walk, can realise their potential. Our aim is to 336 TfL Members’ meeting attendance cycle and spend time will reduce car be a fully inclusive employer, valuing and 74 New homes and jobs dependency and improve air quality, celebrating the diversity of our workforce revitalise town centres, boost businesses to improve services for all Londoners. and connect communities. 82 Operating our business We are constantly working to improve the We run most of London’s public city for everyone. This means freezing TfL transport services, including the fares so everyone can afford to use public London Underground, London Buses, transport, using data and technology to the Docklands Light Railway, London make services intuitive and easy to use, Overground, TfL Rail, London Trams, and doing all we can to make streets and London River Services, London Dial-a- transport services accessible to all. We Ride, Victoria Coach Station, Santander reinvest every penny of our income to Cycles and the Emirates Air Line. The continually improve transport networks quality and accessibility of these services for the people who use them every day. is fundamental to Londoners’ quality of life. By improving and expanding None of this would be possible without public transport, we can make people’s the support of boroughs, communities lives easier and increase the appeal of and other partners who we work with sustainable travel over private car use. to improve our services. We all need to pull together to deliver the Mayor’s Transport Strategy; by doing so we can create a better city as London grows. Transport for London Annual Report and Statement of Accounts 2017/18 3 Message from the Mayor Working towards my Transport Strategy, we are committed to making transport in London safer, cleaner and more affordable. From the streets we live on to the bus I have continued to keep TfL fares frozen, and Tube services we use, transport protected TfL’s travel concessions, shapes our daily lives and creates brought in the unlimited Hopper fare new opportunities. and got night services up and running on London Overground following its In March, I published my Transport huge success on the Tube. Strategy. This demonstrates my commitment to prioritising people’s TfL also has a vital role to play in the health and changing London’s transport growth of the city and delivering new so the city works better for everyone. housing. As well as taking forward new infrastructure schemes, TfL is developing My strategy sets out a bold vision for its own land and this year brought to making London healthier, safer and more market sites that will deliver more than welcoming, with the goal that 80 per 3,800 homes. Under my leadership, cent of journeys will be made by walking, half of these homes will be affordable. cycling or public transport by 2041. By working closely with unions and bus operators, I am helping to improve Improving London’s air quality is key working conditions. In 2017, I introduced to this work and we have made huge the Licence for London, a deal to progress over the past year. For the help drivers fairly move between bus first time since records began 10 years companies, and I secured a new £23,000 ago, London entered the third week of minimum wage for London’s 25,000 January without having breached legal bus drivers. limits for toxic nitrogen dioxide (NO2 ) air pollution. It normally exceeds these It’s only through working with others that targets by 6 January. Image 1: Mayor of London, Sadiq Khan we can truly make a difference to this great city. Our partners, our contractors, This progress could not have been our people and their unions all make a achieved without fresh thinking on vital contribution and I am grateful for London’s roads. In October 2017, I I am also helping taxi drivers to buy stage of Cycle Superhighway 6 in Camden everything they do. introduced the T-Charge to start cleaning zero emission capable (ZEC) vehicles by and Islington. up our toxic air ahead of the start of the providing funding to replace the oldest central London Ultra Low Emission Zone taxis and speeding up the installation of As well as being clean and pleasant, in 2019. new rapid charging points across the city. transport has to be safe, reliable, accessible and affordable. Over the past I launched the first two Low Emission We need streets to be welcoming year, I have been working hard to provide Sadiq Khan Bus Zones in Putney and Brixton, and environments for people to walk Londoners with the high-quality services Mayor of London pollution levels have fallen drastically and cycle in, and I am pleased that they deserve and to create transport links as a result. construction has now begun on the next that work for everyone. 4 Message from the Mayor Transport for London Annual Report and Statement of Accounts 2017/18 5 Commissioner’s foreword We have made good progress towards delivering our Business Plan with the safety of our customers, staff, contractors and suppliers as our top priority. Safety must always come first. In we expanded our Santander Cycles November, we marked the first scheme to Brixton, introducing another anniversary of the tragedy at Sandilands, seven docking stations and 200 bikes. where a tram overturned and left the More Cycle Superhighways, Quietway rails. Dane Chinnery, Donald Collett, routes, and plans for a new walking and Robert Huxley, Philip Logan, Philip Seary, cycling crossing linking Rotherhithe and Mark Smith and Dorota Rynkiewicz lost Canary Wharf will help to encourage their lives and a further 62 people were Londoners to swap their cars for more injured. Our thoughts remain with their sustainable and active ways of travelling. families and loved ones, and we continue to do everything we can to support them. Our work to support London’s growth and create new homes has continued The Rail Accident Investigation Branch apace. This year we comfortably beat our published its report in December 2017, targets for developing the property we and we are working with them, the Office own, and half of all the homes we build of Rail and Road, tram operator First will be affordable. Group, and the wider industry to make Image 2: Commissioner, Mike Brown MVO sure all the report’s recommendations Finally, we were all devastated when Ian are delivered and that an event like this Nunn, our Chief Finance Officer, passed never happens again. away very suddenly in July 2017. Ian was a exceeding savings targets and cutting We continue to make accessibility true friend and a great leader, who helped Our job is to deliver the Mayor’s our year-on-year operating costs over improvements on our network. We us build a plan for driving down costs Transport Strategy and make travelling the past two years. This tight grip on our delivered the 73rd step-free Tube station while maintaining investment in London’s in London healthier, easier and more costs will continue into future years. at Bromley-by-Bow in March 2018 and transport networks. affordable, while building a strong our goal is to have 100 step-free stations financial position that creates a net Our transport services must be by 2022. The Elizabeth line will be fully We have built on that plan and, in 2017/18, operating surplus by 2021/22.