By Richard Johnstone | 24 January 2014
Public money spent on the Crossrail project in London has so far been well protected and the programme is on track to achieve value for money, according to government auditors.
In a report examining the progress of the £14.8bn scheme to build the rail line linking east and west London, the National Audit Office said about half the infrastructure work was completed. The line is expected to open in full by December 2019.
However, the Crossrail report stated that a number of risks remained.
Progress is slightly behind schedule, but Transport for London’s Crossrail Limited project manager has taken steps to improve the progress against schedule and it remains confident it will meet the planned delivery date.
Forecast costs also remain within the total funding limit, which is made up of £5bn from the Department for Transport and borrowing by Network Rail and Transport for London. Businesses have also contributed to the funding package, including through a supplement to London business rates, although it is likely that a contribution from Heathrow Airport will be smaller than expected – £70m rather than £230m.
The biggest risks include the delivery of the new trains to run on the line, which will be funded by Transport for London, and the appointment of an operator to run services on the line.
Auditor general Amyas Morse said: ‘The sponsors and Crossrail Limited have so far done well to protect taxpayers’ interests, by taking early action to stop costs escalating and, during construction, tightly managing the programme. There is still a long way to go and the department must continue to manage risks to protect its investment in Crossrail.’
Responding to the report, a DfT spokesman said: ‘Crossrail is part of an unprecedented programme of railway investment across the UK and London which is helping deliver growth in the UK economy and improve our long term competitiveness.
‘The contribution from Heathrow Airport was always subject to a business case being approved by the Civil Aviation Authority and therefore was never guaranteed. The department made provision for this fact in its planning and its grant towards the cost of Crossrail remains the same.’
