2 HMGexpectsTfLtobecomefinanciallysustainable by March 2024, which it defines as TfL’s ability to cover, from sources available to it (including the consideration of potential new sources of income and committed Business Rates Retention): operating expenditure; servicing and repaying debt; and capital enhancements and renewals. For major capital enhancements and renewals (eg replacement of life expired rolling stock such as the Bakerloo Line fleet, signalling and major road renewals), TfL is not expected to solely finance these from operating incomes, as is consistent with other transport authorities. The conditions in paragraph 9 apply to any major capital enhancements and renewals.