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Transport for London’s (TfL’s) 2018 Business Plan included an assumption of a £600m reduction in forecast revenue over three years as a result of the delay to the opening of the Elizabeth line. This was a prudent assumption based on the information available at the time about Crossrail’s delivery schedule.
Crossrail Ltd has since announced that it expects the central section of the Elizabeth line to open within a six-month window that has a midpoint of December 2020.
TfL will be publishing the annual update to its Business Plan later this year, which will include updated revenue projections for the Elizabeth line based on the latest delivery forecasts from Crossrail Ltd, as well as wider spending plans.