Work to finish Crossrail Will continue after the last minute loan of $ 825 million to London from the government. Delayed railroad retention from the “devastating” moth.
Transportation London said the new funding to open the new railways in 2022 would allow it to go “at speed” – but a political lineup has developed between the mayor and ministers over whether capital is being treated unfairly in the wake of the corona virus epidemic.
Crossrail It announced in August that more funding would be needed After postponing its start date by another year from 2021, due to long-distance requirements for safe work.
London Mayor Sadiq Khan said the ministers had insisted London Pay off the $ 18.7 billion project deficit, a joint venture between the DFL and the national government, “despite the majority of tax revenue from crossrail going to the treasury”.
Khan said: “This is just another example of London’s support for the government and beyond. I do not want this project to stall, so it is necessary to dig deep to run and operate the railway. ”
The government agreed Emergency 1.8 billion emergency Govt-19 fund The DFL helped last month deal a huge loss of revenue from passengers being told to skip trips, but at the time Crossrail funding was waived.
Transport Secretary Grant Shops said: “The government is committed to completing the project as soon as possible in a way that is reasonable to UK taxpayers, and is committed to financing the completion of the crossrail. However, London – as the primary beneficiary – will eventually have to accept any additional costs. ”
“The government will take all necessary steps to complete the project without the need for additional funding,” he said, adding that DFL is conducting a more independent analysis of the costs.
Major problems arose in setting up new railway stations under central London Just months before its original scheduled December 2018 opening, Then there are difficulties in synchronizing the highly complex signal system.
Speaking to the London Assembly Transport Committee after the announcement, DFL Commissioner Andy Byford said “there will be no more slippage” and that he and Crossrail “have a very clear understanding of the work that still needs to be done.”
Bifford said the financial deal was “on the wire” and that no deal would be “catastrophic”: “We have to moth the project – this is the hard truth, we have to stop working, we have no financial authority.”
With the money, he said: “We will be pragmatic. We can choose to stop certain things before the railway opens – safety is not important, no one is facing the public. I am clear: there is no more slippage than previously identified by the Outgoing Crossrail Board and no further assistance to public funds.”
The Outgoing Board has identified a $ 1.1 billion budget and London Deputy Mayor for Transport Heidi Alexander has agreed that the government could still be asked to fund the remaining $ 275 million. He said the late opening would raise DFL’s losses of $ 200 million, totaling $ 1.3 billion, in budget revenue (if known by crossrail) from the Elizabeth tax.
Under the current deal, the Greater London Authority has borrowed up to $ 825 million from the Department of Transportation to raise the DFL. GLA will repay the loan from business rate surcharges and taxes on developers.
Crossrail CEO Mark Wilde said Elizabeth Line’s distribution was “at the final stage of its complexity” and there was much work to be done on the infrastructure before the system began intensive testing in 2021. The Elizabeth line, with the potential to move more than half a million passengers daily, will boost the UK economy by $ 42 billion, DFL said.