Crossrail 2 is jointly sponsored by the Department for Transport (DfT) and Transport for London (TfL). Both organisations therefore fund the development of the project and as part of this agree annual budgets.
As joint sponsors DfT and TfL oversee an integrated project team tasked with the development of the project. This team comprises of TfL and Network Rail staff
In July this year, TfL published a revised budget. This acknowledged that there were some difficult choices on future major transport schemes such as Crossrail 2 and that they needed to be realistic about its affordability over the next decade. Government continues to discuss next steps for Crossrail 2 as a consequence.