London is paying an "unfair contribution" to Crossrail, says report

Date: 23/2/2010

London is arguably having to make an "unfair contribution" to the cost of the construction of Crossrail, a report by the London Assembly has stated.

According to the assembly's transport committee, London should not be asked to make additional contributions to the construction of Crossrail if further funding should be required.

It proposed that a Crossrail levy should be applied to local authorities on the route outside the Greater London Authority boundary.

At present, Londoners are set to pay half the cost of the £16 billion project.

A total of £4.1 billion will be raised by business premises in the city with a rateable value over £55,000. These will be charged a business rate levy of two per cent.

A business rate supplement will have to be paid by London firms for up to 31 years.

Crossrail has stated it has noted the recommendations.

A total of 300 properties will have to be acquired along the Crossrail route, according to the Evening Standard.