Treasury urged to aid Crossrail amid spending cuts

 
Pressure is being stepped up onthe Treasury in the battle to protect Crossrail from spending cuts.

The Thames London Partnershipthis week warned that London’s economic and social growth would be put at risk if transport infrastructure projects were axed after next month’s Comprehensive Spending Review.

Lord Falconer, the former Labour minister and partnership chairman, warned the capital could lose out to its global rivals: ‘London inevitably needs to expand and there needs to be an appropriate transport network.’

Michelle Dix, managing director of planning at transport for London, said: ‘The increase in London’s population is not going to stop. We need to look at how we get private funding.’

Baroness Valentine, chief executive of business lobbying group London First, argued that the Government would ultimately collect on its investment through taxes. ‘Alternatives are second-best to actually putting the money in. It’s the Treasury that gets the money so the Treasury should put it in.’

Transport minister Theresa Villiers said the Government remained committed to the project but not unconditionally. ‘We have made clear our support for Crossrail, because we believe it can be a significant growth generator throughout London, the Thames Gateway and well beyond,’ she said.

‘But just like any other major infrastructure project, it needs to be tested and re-tested at every stage and along every mile to reduce costs and improve value.

‘The challenge now facing all those involved in the project is to find further efficiencies – for example through risk mitigation, more effective procurement, and seeking ways to engineer costs down.’

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