[Article] New railway mooted for London

Victor

And we worry about the Metro

http://home.eircom.net/content/reuters/uNews/3629645?view=Standard

New railway mooted for London
From:Reuters
Tuesday, 20 July, 2004

LONDON (Reuters) - The government has backed a long-mooted plan to link east and west London with an underground railway -- the Crossrail project -- but say funding remained to be sorted out.

"I am now confident that Crossrail should proceed although a major funding challenge remains," Transport Secretary Alistair Darling said on Tuesday, as he unveiled a five-year plan for transport.

Darling told parliament a bill would be introduced "at the earliest opportunity" to establish the powers needed for the construction of the rail link, the cost of which he confirmed as 10 billion pounds.

The government has long supported the project in principle but insisted the cost could not be met solely, or even largely, by taxpayers.

Ministers have been consulting with business about the scheme.

"Government will need to work with the Mayor and the London business community to find a funding solution where everyone pays their fair share," Darling said.

Companies in the City of London, the capital's financial heart, have said they will not remain there indefinitely without drastic improvement in transport links.

Crossrail was seen as a vital component of London's bid to host the 2012 Olympics but experts say it is highly unlikely to be completed by then.

Darling said he would find an additional 340 million pounds of government money for London's creaking transport network to add to the 2.9 billion pounds borrowing plan up to 2010, of the Transport for London body.

"Transport will be crucial to a successful British bid for the 2012 Olympics," Darling said.

sceptre

Makes sense to have Crossrail 1 started as soon as possible. Trouble is, every interest group in east London will want a spur to it. Newenham council have already twisted Darling's arm to try and get it to go through their backyard even though it doesn't make a whole deal of sense.