Funding options will be examined in the coming months for Crossrail 2, a joint statement from the Mayor of London and the Transport Secretary, confirmed today.
Chris Grayling confirmed his support for the scheme but emphasised the need to get it right given the cost of Crossrail 2, while Sadiq Khan described the project as “essential.”
The statement comes following a meeting last week between the two – described as productive – that discussed the scheme, and saw agreement in the fact that it is needed to not only boost London’s infrastructure to support growth, but also to guarantee productivity and employment remain high.
It has been confirmed that London can pay for half of Crossrail 2 during its life but the pair also want to see if the capital can do the same for the project during construction.
Crossrail 2 is a rail route connecting the south east to London.
Much like the current scheme, the idea of this project is to ease overcrowding while boosting connectivity.
The importance of the rail improvements have been highlighted through Crossrail 1, which is now approximately 85% complete.
Going forward, the Mayor of London and Transport Secretary both want to make sure a funding package is agreed that is suitable not only for the capital, but for the country.
Both agreed that ways to improve affordability need to be examined and any lessons from the first Crossrail scheme should be learned.
Chris Grayling said: “I am a supporter of Crossrail 2 but given its price tag we have to ensure we get this right.
“The Mayor and I have agreed to work together on it over the coming months to develop plans that are as strong as possible, so that the public gets an affordable scheme that is fair to the UK taxpayer.
“Following a successful outcome being reached, I am keen to launch a fresh public consultation to help gather views to improve the scheme and clarify the position around the safeguarded route.”
Sadiq Khan added: “Crossrail 2 is essential for the future prosperity of London and the south east, so I’m pleased that the Transport Secretary and I have reached an agreement to take this vital project forward.
“We will continue to work together to ensure the project is value for money and provides the maximum benefits for jobs and growth in the region over the coming decades.”