Request ID: FOI-2692-2122 Date published: 18 March 2022
You asked
Please accept this as an FOI to be provided with the conditions of the Government bailout that were rejected by your And Byford as "something
that is undeliverable or unaffordable”.
This will be around the 9th Feb 20222
We answered
Our Ref: FOI-2692-2122 Thank you for your request received on 22 February 2022 asking for information about the conditions of the most recent government funding agreement.
Your request has been considered in accordance with the requirements of the Freedom of Information (FOI) Act and our information access policy. I can confirm we do hold the information you require. In accordance with the FOI Act, we are not obliged to supply the requested information as it is subject to a statutory exemption to the right of access to information under section 43(2) – prejudice to commercial interests. In this instance section 43(2) has been applied as disclosure would be likely to prejudice our commercial interests by hindering our ability to effectively negotiate future funding agreements. The most recent funding agreement we have agreed with Government runs to 24 June 2022 and anticipates a further agreement will be required at that point. It would not be conducive to the future negotiations for that agreement to disclose information relating to aspects that were put forward by Government, but not agreed, in the negotiation of the current agreement. It is likely that many of those aspects will be relevant to future negotiations and it would not be possible to engage in constructive negotiations if information on those aspects is in the public domain. It would be likely to harm our commercial interests if those negotiations for a future funding agreement are compromised, while we are dependent on government funding to meet our current revenue shortfall and seeking to settle the capital support that Government will provide. The use of this exemption is subject to an assessment of the public interest in relation to the disclosure of the information concerned. We recognise the need for openness and transparency by public authorities, particularly where the expenditure of public money is concerned, but in this instance the public interest in ensuring the success of negotiations for any future funding agreement outweighs the general public interest in increasing transparency around the negotiation of the current agreement. Please note a copy of the final settlement letter, dated 25 February 2022, is published on our website along with those from previous agreements: https://tfl.gov.uk/info-for/investors/funding-letters. Please see the attached information sheet for details of your right to appeal. Yours sincerely Gemma Jacob Senior FOI Case Officer FOI Case Management Team General Counsel Transport for London
