| Crossrail: Annual update |
| Thursday, 16 July 2009 12:26 | ||||||||
|
The Minister of State for Transport (Mr Sadiq Khan): On 14 July last year, my honourable Friend Tom Harris MP made a statement offering assurance to Parliament that a statement will be published at least every 12 months until the completion of the construction of Crossrail, setting out information about the project’s funding and finances. This assurance was placed on the Crossrail Register of Undertakings and Assurances. Government is committed to ensuring that there is a high level of transparency as to the progress and cost of the Crossrail project. Our intention in this area was set out in the Heads of Terms which were signed in November 2007. The Heads of Terms have now been superseded by the Crossrail Core Agreements, binding legal documents which set out the funding, governance and delivery arrangements for the Crossrail project. These were signed by the Secretary of State for Transport, Transport for London, and Cross London Rail Links Limited on 3 December last year, and were published in the House Library, with an accompanying statement to the House. Since the assurance was given, Cross London Rail Links Limited has also changed its name to Crossrail Limited. In line with my Honourable Friend’s assurance to the House I am therefore publishing this statement within 12 months of the Crossrail Act 2008 coming into force on 22 July 2008, and set out below the information outlined in that assurance:
The numbers above have been provided by Crossrail Limited and are drawn from their accounts for the relevant periods. I can also confirm that the costs of the construction of Crossrail are likely to fall within the agreed budget, based on best current estimates of costs provided by Crossrail Limited. The Government remains fully committed to Crossrail. This is a long-term major infrastructure project, helping, and responding to, London and the South-East’s transport needs for the next half century and more. We remain confident that Crossrail will be delivered on time and on budget and that the project can be funded as planned. |
Promoted by Tooting Labour Party on behalf Sadiq Khan and Tooting Labour Party, all of 273 Balham High Road, London, SW17 7BD. Hosted by 34SP.com, 349 Bury Old Road, Manchester, M25 1PY.
