The Mayor of London and Transport for London (TfL) announced their intention to ask the TfL Board to set up a new company, Crossrail 2 Ltd, to take forward the development and delivery of the new railway. Crossrail 2 Ltd would be a wholly owned subsidiary of TfL tasked with driving forward the development of the project. The Board will bring together senior industry expertise and will steer the project through the development phase to the grant of powers to begin construction.
Significant progress has been made by TfL, working with Network Rail, on the design phase of Crossrail 2 with the latest public consultation on locations for stations and worksites now underway. The project is due to accelerate further in mid-2016, with continued development of the Business Case, with further work to secure funding and decisions on powers for its construction, which could be as early as 2020.
The proposed railway received a boost in the recent Spending Review and Autumn Statement, as the Chancellor confirmed that the project would be eligible for funding from a new 300 million Transport Development Fund.
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