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Rail Update

01 December 2020

Proposing MP
Grant Shapps Con
Welwyn Hatfield
Type
Written Ministerial Statement
Department
Department for Transport
View on Parliament.uk -->

At a Glance

Issue Summary

The statement discusses the provision of additional funds for Crossrail's completion in London.

Action Requested

£825 million will be made available to the Greater London Authority (GLA) through additional borrowing, to be repaid via London’s Business Rate Supplement and the Mayoral Community Infrastructure Levy. The government remains committed to financing Crossrail's completion, with London responsible for any further costs.

Key Facts

  • £825 million of additional borrowing announced.
  • GLA will repay the loan via London’s Business Rate Supplement and the Mayoral Community Infrastructure Levy.
  • The project is set to continue being funded.
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