On 3 January 2018, the London Assembly Budget and Performance Committee sat down with TfL to go through their current budget. Discussion largely focused on the various pressures on TfL’s finances – from the removal of TfL’s government grant, to fare freezes and falling advertising revenues. About two and a half hours in, however, Assembly Member Caroline Pidgeon asked a question: “In here, there’s a line… £850m capital receipt… what exactly is this?” The reply, from Simon ...