How should we fund Crossrail 2?

18 March 2015

This meeting took place on 19 March 2015. Read the transcript for the first section here and the second section here.

Crossrail 2 is a proposed brand-new rail line, connecting the south west and the north east of the capital, via Chelsea, King’s Cross and Haringey.

Transport for London and business group London First both believe the project is essential to help London’s growing population, and ease overcrowding - especially when HS2 opens its doors, unlocking benefits for the whole of the UK.

But how will it be funded? What should the split be between businesses, passengers and London residents? And given the economic benefits to the whole of the UK, how much should central government be funding?

The London Assembly’s Budget and Performance Committee will tomorrow examine the funding of Crossrail 2 with the following guests:

Daniel Moylan, Mayor’s Adviser on Crossrail 2 and Aviation

Ray Mills, Partner, PwC

John Dickie, Director of Strategy and Policy, London First

The second section of the meeting will be on the Independent Investment Programme Advisory Group (IIPAG), with David James, Chairman. IIPAG provides independent advice to the Mayor on Transport for London’s Investment Programme.[1] Issues for discussion include TfL’s investment programme and the changing role of the IIPAG.

The meeting will take place tomorrow, Thursday 19 March from 10.00am in Committee Room 5, City Hall (The Queen’s Walk, London SE1).

Media and members of the public are invited to attend. The meeting can also be viewed via webcast.


Notes for Editors:

In May 2010, the Independent Investment Programme Advisory Group was established by the Mayor and the Secretary of State for Transport. Its role is to examine, comment upon and advise on the performance of Transport for London (TfL) in relation to the management of its investment programme.

The agenda and committee papers are available here.

John Biggs AM, Chair of the Budget and Performance Monitoring Committee is available for interview. See contact details below.

As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.

For media enquiries, please contact Ash Singleton on 020 7983 5769. For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer. Non-media enquiries should be directed to the Public Liaison Unit on 020 7983 4100.