Gordon Brown, the Prime Minister, confirmed on 5 October, 2007, that Crossrail has the funding to go ahead.

On a visit to the Crossrail offices in central London, Mr Brown said that the construction of the line would be of "enormous importance, not just for London but for the whole country'' and would generate up to 30,000 new jobs.

He emphasised: 'For decades the idea of Crossrail - a major new railway link connecting central London, the City and Canary Wharf to Heathrow and to commuter areas east and west of the capital - has been a long-held dream for business and Londoners alike.

'I am pleased to be able to confirm to you all today that we have now reached final agreement on the funding that is needed. Full details will be announced next week but I can say today that both the private and public sectors have made major financial commitments and that the project will now definitely proceed.'

The details of the funding arrangement were given on 9 October in the Comprehensive Spending Review, announced in Parliament by the Chancellor.



The Mayor of London Ken Livingstone made a very positive answer to a question from a GLA member:

• How confident are you that Crossrail will be approved, funded and built and what are the main issues that still need to be resolved? (John Biggs)
  
  

The Mayor replied:

'We are the furthest forward we have ever been in getting Crossrail built.

We have a robust scheme, with a review currently reducing the cost even further.

The support is widespread and cross-party, including from the Government, 20% of top FTSE companies, the CBI, London Chamber of Commerce and Industry, London First, all London boroughs, most London MPs, the Mayor, Assembly Members including yourself, UK Tourist Bodies and Unions.

Crossrail is the single biggest addition we can and need to make to London's infrastructure.

The case is overwhelming.

The benefits over 60 years of a £30bn increase in UK GDP, £12bn more in tax revenue and £5bn saved in time to business easily outweigh the cost.

A Bill for Crossrail is being taken through Parliament, sponsored by the DfT.

The main outstanding issue is funding. We have been having constructive talks with the Treasury, and are looking at a formula involving a contribution from fares, from business, and from the Government.

The government has indicated that there will be a decision within the 2007 Comprehensive Spending Review.

What is clear is that Crossrail cannot be delayed. While the capital's economy and population continue to grow, its transport system is already over-stretched.

Crossrail is the single most important project to support this growth – it would provide 40% of the extra rail capacity that London needs by 2015.

Any delay could harm UK economic growth and regional regeneration, harm core business centres, undermine London's global importance and put huge pressure on the network.'

Updated 23 October 2007