London First is backing Crossrail 2 as the priority major new transport scheme for London and the south east for the coming decade.
Crossrail 2 has the potential to:
develop 200,000 new homes across the region
support 60,000 new jobs across the UK supply-chain, and 200,000 new jobs once completed
increase London’s rail capacity by 10 per cent
London First campaigned hard for Crossrail 1, due to start operating from late 2018. Business backing was instrumental in getting the scheme’s go-ahead, and our ambition is to now do the same for Crossrail 2.
Our business taskforce endorsed Crossrail 2 in 2013 and the project has gained wide-reaching, cross-party support:
Sadiq Khan, Mayor of London described Crossrail 2 as “essential” in his Transport Strategy
Crossrail 2 has been subjected to extensive analysis and consultation led by Transport for London (TfL) and has been identified by Network Rail as a priority scheme
TfL submitted a detailed business case for the scheme to the Department for Transport (DfT) in March 2017
The National Infrastructure Commission concluded it “should be taken forward as a priority (alongside rail improvements in northern England)
We are supporting the government review focused on developing fair and affordable plans for the scheme ahead of the 2018 autumn Budget.
In response, we will be publishing a view from London business as to how such a fair and affordable funding package for Crossrail 2 could now be constructed. We are building on the success of developing a mixed funding package for Crossrail 1, on TfL’s previous work on Crossrail 2 funding and financing and on our own earlier report on funding Crossrail 2 from 2014