Budget and Business Plan
Our Business Plan maps our plans over the period to 2026/27.
It focuses on supporting the Mayor's ambitions around the key themes of Healthy Streets and healthy people, a good public transport experience, and new homes and jobs. It also outlines our priorities as we work to become a strong, green heartbeat for London.
Every penny of our growing operating surplus is re-invested in our services, and benefits London and the UK.
The safety and security of our customers, staff and all Londoners is at the heart of everything we do. We are determined to continue to invest in improving safety and security for all, as we work with our partners to deliver our Vision Zero ambition of no people being killed or seriously injured on our network.
Our Business Plan sets out how we will introduce 54 new trains to replace the 33 oldest trains in the DLR fleet, some of which are more than 30 years old. The new trains will help unlock 10,000 new homes across the network, particularly in the Royal Docks and on the Isle of Dogs.
Our investment is helping Londoners to reduce car use as we respond to the climate and ecological emergency. We already have the biggest fleet of zero-emission buses in Western Europe and are on track to transition to a fully zero-emission bus fleet by 2034, but with continued Government investment, this target could be achieved by 2030.
The new Superloop bus network is adding more than four million scheduled bus kilometres each year to outer London's bus network, helping to maximise the benefits of the expanded Ultra Low Emission Zone, while also helping deliver faster journeys, improved connections and a better customer experience.
As one of London's largest landowners, and the largest integrated public transport authority in the UK, we have an opportunity to create new homes and new jobs. We continue to improve our income by growing the value of our property company, Places for London, while also taking advantage of third-party funding sources and driving commercial media revenues.
We are also investing in our people. We want to be a great place to work for everyone to thrive so that we attract, retain and develop people with the skills to achieve our goals. We are working to ensure that our organisation is as diverse as the city we serve, at all levels.
We will also introduce new UK manufactured Piccadilly line trains, start the procurement process for new trams and, subject to funding, exercise the options for new Bakerloo line trains.
2024 Business Plan
Our Business Plan was approved by the Finance Committee on 22 December 2023, under the authority delegated by the Board on 13 December 2023.
Financial Sustainability Plan
Under the terms of our October 2020 Funding and Financing Agreement with the Department for Transport, we produced a comprehensive plan with options on how we could achieve financial sustainability by 2023/24. This was published in January 2021.