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Address in Reply to Her Majesty's Most Gracious Speech

Part of the debate – in the House of Lords at 11:00 am on 25th November 2004.

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Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 11:00 am, 25th November 2004

My Lords, the House will recognise that this is a very substantial investment programme in which not only the Government intend to ensure that they provide their share; investment from private interests, which will benefit hugely from the development of Crossrail, is an important part of the development. There has been enormous pressure from whole areas of private business with regard to the construction of this feature. So the answer to the noble Lord is straightforward. We could not expect this project to be financed solely with government funding. As we anticipate that it will take a decade for the project to be fulfilled, the noble Lord will also recognise that at this stage it is a little early for us to go into minute detail about finance.