05.03.18
DfT launches Crossrail 2 affordability review to ensure value for money
Chris Grayling has announced an independent review to ensure the affordability of Crossrail 2.
Speaking at the Transport for the Northern Powerhouse conference in Leeds last Friday, the transport secretary explained that the Independent Affordability Review, commissioned jointly by the DfT and TfL, has been established to ensure that Crossrail 2 demonstrates value for money to the taxpayer.
The review will focus on the affordability of the project, ensuring that it learns from the best practice exhibited by other projects such as Crossrail, and that those who stand to benefit from the scheme contribute to funding it.
The review will be led by Mike Gerrard, former managing director of Thames Tideway Tunnel.
“Crossrail 2 has the potential to relieve congestion and unlock housing, jobs and development to support future growth in London, but it is imperative that it can be delivered in an affordable way that is fair to both the London public and the wider UK taxpayer,” Gerrard explained.
“Major projects work best when independent reviews, drawing on a wealth of experience, help move them from plans to spades in the ground.
“I am delighted to chair this crucial review and I look forward to working with the DfT and TfL to ensure that Crossrail 2 is the best project it can be.”
Mike Brown, London’s transport commissioner, added: “We welcome the government’s backing for infrastructure projects of national importance such as Crossrail 2 and are pleased to be working with the DfT on the Independent Affordability Review led by Mike Gerrard.
“This is an important step forward for a project that is vital for London, as reflected in the Mayor’s Transport Strategy, and for the whole of the south-east region.”
The review is expected to conclude in summer 2018.
Top image: Transport for London Press Images
Have you got a story to tell? Would you like to become an RTM columnist? If so, click here.