Crossrail Funding (1)

Questions to the Mayor of London – answered on 8th January 2021.

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Photo of Alison Moore Alison Moore Labour

What specific representations have you made to the Government to secure and agree a funding deal for Crossrail?

Photo of Sadiq Khan Sadiq Khan Mayor of London

The GLA and TfL set out the financial and operational constraints in relation to the project and the GLA’s capacity to borrow against the Crossrail Business Rates Supplement and Mayoral Community Infrastructure Levy, including our prudent assumptions for the recovery of those revenue streams following the impact of the pandemic. Following lengthy negotiations, a deal was secured meeting these criteria on 30 November 2020, the full details of which are described in MD2702.