To ask the Secretary of State for Transport, what the cost of the Crossrail programme has been (a) to date and (b) in each financial year since the programme began; what proportion of the cost in each of those categories has been borne by (i) the public purse, (ii) funding from the EU and (iii) private companies involved in the programme; and what the projected cost of that programme is expected to be over its lifetime in total and for each of the three sub-categories set out above.
4 November 2015
During the passage of the Crossrail Bill through Parliament, a commitment was given that a statement would 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. The first statement was published in July 2009.
The latest statement was published on 2 July 2015 and can be viewed here:
Expenditure incurred by Crossrail Ltd. in relation to the construction of Crossrail in the period covered by the statement (30 May 2014 and 29 May 2015) was £1,583,293,000 (excluding recoverable VAT on land and property purchases).
Crossrail’s funding package of £14.8bn is roughly split three ways between taxpayers, businesses, and future Crossrail fare payers. It is not possible to produce a detailed breakdown of which funding streams expenditure year on year comes from.
Crossrail Ltd. continue to forecast that the costs of constructing Crossrail will be within the agreed funding limits.