Lords of Transport are marching

The most startling part of the TfL Annual Report is the explosion of highly paid people being given a good living. In 2002 the “corporation” had 59 people earning over £50K. That number has shot up to 344 this last year. In the category of people paid over £100K the number has gone from 9 to 40.

The 344 are not the whole picture. Across the whole TfL “group” the number paid over £50K is a staggering 821. The group employs 76 people who earn over £100K. I always thought that straightforward transport and construction types were relatively modestly paid people. Maybe they have been bigging themselves up so much with their £78 million of ad spending, in spite of having no competitors, that they think they are worth more than they really are.

This crew keep ramping fares but still need £2 BILLION of subsidies to keep all of their balls in the air.