The Bakerloo Line could suffer a “critical failure” if the government does not provide funding for a planned upgrade and extension, London’s business scene and a slew of local authorities have warned.
A report by Central London Forward, a partnership of 12 central London Boroughs, warned of the “escalating risks of inaction” to replace the Bakerloo Line’s rolling stock, which is the oldest still in passenger service in the UK.
Built in 1972, the trains are now 16 years beyond their intended lifespan, while maintenance costs are higher than other lines and rising.
Central London Forward’s report found the Bakerloo Line Upgrade and Extension project would create 9,700 jobs and generate £1.5bn in GVA. It would also improve connectivity, with travel time from Old Kent Road to Oxford Circus cut by nearly two-thirds from 38 minutes to 13 minutes.
But the project can only go ahead if the government puts in place a capital funding deal with Transport for London (TfL).
TfL has struggled for cash since the pandemic wiped out passenger numbers. The government committed £250m to the operator in December, but that was only half of the £500m it had asked for.
Cllr Kieron Williams, Chair of Central London Forward and Leader of Southwark Council, said: “The Bakerloo Line Upgrade and Extension is an investment that would keep our city moving forwards. At a time when we urgently need to get growth back on track, it would boost our economy, create jobs, and unlock tens of thousands of much-needed homes, all by making better use of the tunnels we already have beneath our capital.
“But we can’t deliver it alone. To unlock these benefits we need the government and London to invest together. At the budget next month, the Chancellor should commit to delivering the Bakerloo Line Upgrade and Extension, and work with London Government and businesses to deliver this transformative scheme.”
John Dickie, Chief Executive of the lobby group BusinessLDN, said: “Almost one million jobs are located within a short walk of stations on the Bakerloo Line.
“Upgrading and extending the line would boost the economy by creating new jobs across the capital while also unlocking the new homes that are desperately needed by Londoners.
He added: “While the one-year capital funding settlement recently agreed by TfL and the Government provides some short-term certainty, it is now important that a multi-year deal is agreed to enable London and suppliers across the country to plan for the future with confidence.”
Jennifer Daothong, Chief Executive of Lewisham Council, said: “London is the beating heart of the British economy and the Bakerloo Line Upgrade and Extension is vital to Lewisham and London’s continued growth. It would create tens of thousands of new jobs and homes, as well as make our capital city greener and more sustainable.
“The project has overwhelming support from local people and a wide range of businesses – and, as this new report demonstrates, funding the scheme would bring benefits that would be felt far beyond London, across the whole country.”
A Department for Transport spokesperson said: “The Government has provided more than £6.6bn of support to TfL since 2020, including the most recent injection of £250m to help fund new Piccadilly Line trains in December 2023.
“Transport in London is devolved meaning it is for the Mayor to deliver services in the capital and explain how his decisions are funded.”