Crossrail

The Government’s go-ahead for Crossrail, announced on 5 October 2007, was met with applause and relief by London’s business community.  London First London First has been campaigning for this vital east-west rail route since its inception in 1992.  Here’s why:

London is home to the most productive and globally competitive sectors of the UK economy.  Its continued success is vital for the whole country.  However, London’s success cannot be taken for granted.  The capital’s overcrowded transport system is a major risk to future competitiveness.  Capacity is full and London businesses rate transport as the most important spending priority for Government.

Crossrail will

  • provide 40% of the extra capacity needed to support London’s predicted population growth of 800,000 and 350,000 jobs by 2016
  • support the extra 2 million journeys per day that will be made in London by 2016, tackling the unreliability that damages productivity, and relieving overcrowding like no other project can
  • link Heathrow, the West End, the City and Docklands, providing extra capacity where it is needed most – to get people to work
  • increase UK GDP by up to £31bn over sixty years (and Treasury’s tax  revenues by £12bn)
  • act as a catalyst for regeneration, supporting Government’s plans for housing growth in the Thames Gateway and providing some of the country’s poorest communities with access to jobs and other opportunities

Crossrail – keeping track of progress
The Crossrail Bill received Royal Assent on 22 July 2008 which is great news for London’s commuters and marks an important milestone in the progress of this vital project.  The Act means the project has planning permission, allowing the team to acquire land and start the procurement process in earnest. The Crossrail company now becomes part of Transport for London and four new board members have been appointed - Michael Cassidy CBE, Patrick Crawford, Sir Joe Dwyer and Heather Rabbatts, CBE.
 
Chancellor Alistair Darling will be joining our members for a Crossrail reception (17 Sep), to toast our success and refocus on the challenges ahead until the line opens in 2017. 

London First has long campaigned for Crossrail and was instrumental in securing Government funding commitment last Autumn.  We will work to make sure that governance arrangements are robust, and the necessary legislative changes (regarding business rate supplements) are made to allow the agreed funding to be assembled, so that construction can begin in earnest in 2010.

Useful links
Route map 
Crossrail funding package

Contact Claire Jenkins on 020 7665 1561