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Crossrail 2 funding and finance study
Posted on: 28 November 2014
By: mackene
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Filed under: News
An independent report produced by PricewaterhouseCooper sets out options into how Crossrail 2 could be funded. It shows that over half of the costs of the scheme could be met by London using existing funding mechanisms. Using the example of Crossrail 1, the report suggests paying back investment through existing methods: a combination of fares revenue, the Business Rate Supplement and Mayoral Community Infrastructure Levy (CIL). The report also looks at options that could see funding raised through retaining the Council Tax contribution for the 2012 Olympic Games as well as potentially increasing the Mayoral CIL. Funding from developments and land owners adjacent to the line could also help contribute.
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