Business think tank London First has called for Crossrail 2 to be given the green light and not to be “shunted into the sidings as initially happened on Crossrail 1”.
Speaking at the organisations London Infrastructure Summit, London First chief executive Jasmine Whitbread said that the case for Crossrail 2 was “crystal clear”.
Transport for London’s Crossrail 2 managing director Michèle Dix also spoke at the event and reiterated that a decision is needed “pretty soon” to move Crossrail 2 into construction in the early 2020s and operational by the early 2030s. She noted how the line would contribute some 200,000 new homes and jobs and £150bn net GDP, while Transport Minister Lord Callanan highlighted how Crossrail 1 generated jobs and investment across the UK.
Nonetheless, Dix is reported to have warned that each year of delay to Crossrail 2 could cost £1.8bn in construction costs. Whitbread said that repeating the same mistakes as Crossrail 1 could result in £18bn of unnecessary costs.
Funding is now the main challenge facing Crossrail 2 with London expected to foot half the construction costs during the construction phase.