Transport for London (TfL) is a local government body responsible for most aspects of the transport system in Greater London in England, formerly named "London Transport" (LT). Its role is to implement the transport strategy and to manage transport services across London. Its head office is in Windsor House in the City of Westminster.
TfL has responsibility for London's network of principal road routes, for various rail networks including the London Underground, London Overground, Docklands Light Railway and TfL Rail, for London's trams, buses and taxis, for cycling provision, and for river services. The underlying services are provided by a mixture of wholly-owned subsidiary companies (principally London Underground), by private sector franchisees (the remaining rail services, trams and most buses) and by licensees (some buses, taxis and river services). TfL is also responsible, jointly with the national Department for Transport (DfT), for commissioning the construction of the new Crossrail line, and will be responsible for franchising its operation once completed.
In 2015-16, TfL had a budget of £11.5 billion, 40% of which comes from fares. The rest comes from government funding (23%), borrowing (20%), other income (9%) and Crossrail funding (8%).
On 21 January 2016, it was announced that the responsibility for franchising all of London's inner suburban rail services would be transferred from the DfT to TfL. This transfer will take place as current franchises fall due for renewal, and the DfT will continue to be responsible for franchising outer suburban and intercity services to and from London. This announcement effectively extends the existing franchise arrangements for the London Overground and TfL Rail suburban systems to London's remaining inner suburban lines, and mirrors arrangements for the provision of inner-suburban rail lines in other cities, for example Merseyrail in Liverpool.