A Transport for London (TfL) model, which gives cities autonomy over public transport systems, could be key to unlocking regional economic growth. A new report from think tank Centre for Cities argues that replicating TfL's structure, with direct funding and significant devolved powers, is crucial for connecting local economies.
The centre's analysis highlights TfL's ability to integrate different modes of transport, set fares and plan long-term projects as key strengths. These capabilities are largely due to its unique funding model and the significant powers granted to the Mayor of London and TfL. In contrast, many other UK cities rely on fragmented funding streams with limited direct control over their transport networks.
For households and businesses outside London, adopting a similar model could have significant implications. Improved public transport can reduce commuting times and costs for workers, freeing up household income. Businesses could benefit from better access to a wider talent pool and more efficient movement of goods and services, potentially boosting productivity and attracting investment into regional centres.
The report suggests that replicating TfL's success would require significant changes in government policy, particularly regarding decentralisation of powers and funding. It advocates for local authorities to have greater control over their transport budgets, enabling them to make long-term investment decisions without relying on central government approval. This stable funding environment is seen as essential for delivering ambitious infrastructure projects that can transform urban mobility.
However, implementing such changes would come with challenges. Securing the necessary political will and financial commitment from central government to devolve powers and funding would be a significant hurdle. Ensuring local authorities have the expertise to manage complex transport networks effectively would also be crucial. Nevertheless, the Centre for Cities believes that the economic benefits could outweigh the difficulties, leading to more productive regional economies across the UK.