The Government has loaned the mayor of London £350m to help meet additional costs of the Crossrail (Elizabeth Line) project.
The project’s funding envelope of £14.8bn was breached this summer when the Government confirmed £590m of extra funding: £300m for Crossrail Ltd works and £290m for Network Rail works (LTT 03 Aug). The £300m of Crossrail Ltd works is being funded 50/50 by the DfT and Transport for London.
The new £350m loan will...
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