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Time to come clean on Crossrail funding, say Lib Dems
August 18, 2004 1:19 PM
Islington's Liberal Democrats have demanded London Mayor Ken Livingstone and the Labour government come clean on whether the planned Crossrail link to the borough will be funded by council tax rises or tube, train and bus fare hikes.
Crossrail chiefs gave evidence on the extension at the Greater London Assembly's Transport Committee last month but were unable to detail how the project would be fully funded. The east-west rail link proposed for the capital has been estimated to cost around £10.72billion to complete.
The government-commissioned Montague Report also reported last month that fares paid by all London transport users might have to rise by 1% - although this would raise only £175 million.
Islington's Liberal Democrat Executive Member for Sustainability, councillor Bridget Fox, said:
"Despite all their big words of support for Crossrail, Labour ministers have still failed to tell Islington residents how it will be paid for.
"The Labour government has put less than a fifth of the needed cash on the table. The Mayor and the Labour Party must now come clean and tell us whether we face fare hikes or council tax increases to pay for Crossrail.
"Islington has waited long enough for Crossrail. Yet like all their transport projects we seem to be just inching forward at a snail's pace with this crucial project."
The Facts
Crossrail 1 will have a stop in Islington at Farringdon. The Montague Report, which was commissioned by the Government to examine the cost of Crossrail, the extent of Government funding for the project and whether the scheme would provide value for money, identified an £8 billion funding gap.
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