Unsupported browser

For a better experience please update your browser to its latest version.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Crossrail 'will fail' unless funding is resolved, claims new report

  • Comment

A new report from the Corporation of London has warned that unless the funding problems on the Crossrail project are resolved, the £12 billion project will never be built.

The document - produced in response to the latest round of consultation - hits out at the complexity of current financial wranglings.

The move will disappoint many in the capital's architectural community, who reacted with delight earlier this year when the government finally announced that it would support a bill in parliament to enable the massive scheme to go ahead.

But the report stresses that this commitment could be hollow unless extra public cash is found. 'The government is understood to want to cap public funding for Crossrail at about £2-3 billion, whatever the total project cost, and has indicated that the City is expected to make a substantial contribution to the shortfall, ' it warns.

'Unless these complex funding issues are resolved in advance of the bill proceedings, there is every possibility that Crossrail will yet again fail to progress beyond the drawing board.

'Unfortunately it appears that Crossrail has concentrated its efforts to date on the railway engineering aspects of the proposals and has not paid sufficient attention to the need for an affordable scheme and a robust funding mechanism, ' the report concludes.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.