City rises to PM’s Crossrail challenge

03 October 2007

Crossrail is finally set to go ahead after the City of London met the prime minister’s challenge to contribute funding for the £16bn project.

Gordon Brown this week pledged to provide necessary government funding for the project in the Comprehensive Spending Review, on the condition that the private sector also paid its share. He said the City of London ‘in particular, will need to make a significant contribution’.

In response, the City said in a statement: ‘At a special meeting held this afternoon (Tuesday 2 October) at the Guildhall, the City of London's Court of Common Council voted, after lengthy discussion, to support a financial contribution to Crossrail.’ It has been reported the contribution will total around £300M.

Speaking to business people in London on Monday, the prime minister said the Government had ‘worked day and night’ to bring together the £16bn necessary for the scheme.

‘I want the project to go ahead, subject to the satisfactory conclusion of detailed negotiations for additional contributions from all the beneficiaries,’ he said. ‘And I can say today that if others are prepared to play their part, the necessary funding from the Government will be provided in the forthcoming Comprehensive Spending Review – funding only possible because we have kept public spending in other areas under control.’ He confirmed that construction would start in 2010, and trains would start running in 2017.

Ken Livingstone, mayor of London, said: ‘We will continue to work together to close the gap that still remains so that Crossrail can be announced together with the Comprehensive Spending Review, and I am hopeful this can be achieved.’ The rail link will connect Heathrow Airport in the west with central London and Canary Wharf in the east, via key Underground stations such as Bond Street, Tottenham Court Road and Liverpool Street.

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City rises to PM’s Crossrail challenge

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