Bakerloo Line Extension

Meeting: 
MQT on 2017-01-18
Session date: 
January 18, 2017
Reference: 
2017/0256
Question By: 
Len Duvall
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

I welcome you recent announcement about the Bakerloo Line extension to Lewisham. What are the funding and timescale arrangements for this project?

Answer

Answer for Bakerloo Line Extension

Answer for Bakerloo Line Extension

Answered By: 
The Mayor

I have asked TfL to progress the planning and development of the Bakerloo line extension and the new TfL Business Plan provides funding to prepare an application for planning powers by 2020. I have also asked TfL to bring forward delivery of the extension and this is now set to coincide with the planned Bakerloo line upgrade in 2029.

Subject to being granted powers and securing a funding package for the scheme, construction would begin by 2023. The scheme is currently forecast to cost £3.1 billion in current prices. TfL considers that the project could be partially funded from a range of existing sources such as Community Infrastructure Levy, fares income and over station development. However, these sources are insufficient to fully fund the scheme and more work is underway to consider additional funding sources.  This includes capturing more of the value uplift gained by developing land along the route and retaining stamp duty revenue on new development.

I will continue to lobby Government for the necessary powers to ensure these major infrastructure projects can be funded and delivered.