The funding framework for Crossrail was put in place in October 2007 when the Prime Minister announced that Crossrail’s cost will be met by Government, the Mayor of London and London businesses. A funding envelope of £15.9 billion was agreed to deliver the Crossrail scheme in its entirety.
Following the Comprehensive Spending Review in October 2010, a revised funding envelope of £14.8 billion was agreed. In 2018, the funding envelope was increased to £17.6 billion. Additional funding has since been required to complete this vital project. In December 2020, a further £825 million was provided to fund the Crossrail programme, and further funding was provided to Network Rail in July 2019 and July 2020 totalling £390 million. The total funding envelope is now £18.8 billion.
Both the Department for Transport (DfT) and Transport for London (TfL) remain committed to the successful delivery of the project and have agreed an overall funding envelope of £18.8 billion for delivery of the project.
The key elements of the current funding package are shown below: