Item 8. Revised Concessionary Fares Settlement 2016-17 (TEC 10/12)

This report informs the Committee of the outcome of negotiations with transport operators (Transport for London (TfL), the Association of Train Operating Companies (ATOC) and independent bus operators) regarding compensation for carrying concessionary passengers in 2016/17. It also seeks members’ approval to the proposed settlement and apportionment.

The Committee is recommended to:

  1. Agree the TfL settlement of £333.94million for 2016/17.
  2. Agree to the ATOC settlement of £18.520 million for 2016/17
  3. Note that in May 2015, a number of services in north and east London transferred from TOCs to TfL.
  4. Agree a budget for non-TfL bus services of £1.7 million.
  5. Agree the reissue budget for 2016/17 of £1.518 million
  6. Agree the borough payments for 2016/17 of £355.678 million
  7. Agree the payment profile and dates on which boroughs’ contributions are paid as 9 June 2016, 8 September 2016, 8 December 2016 and 9 March 2017.
  8. Agree the 2016-2017 London Service Permit bus operators (non-TfL buses) Concessionary Scheme. 

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