The One London party has accused Government Ministers of giving business in the capital a ‘slap in the face’ after Transport Secretary Ruth Kelly confirmed that London Mayor Ken Livingstone would control the new Crossrail project.
One London Leader Damian Hockney said “a third of the cost of Crossrail is being paid for by the private sector, and it is a serious slap in the face for London business that the government has refused to allow any genuine private sector involvement in its running.”
“Appointing a few token business people to be non-executive directors of the delivery company is little more than window dressing.”
In a written statement to MPs Mrs Kelly announced that the Greater London Authority would be contributing £7.7bn of the project’s expected £16bn cost but would own 100% of Cross London Rail links, the company set up to deliver the scheme.
According to Mrs Kelly the Mayor would raise finance for the project “from a combination of debt raised on the back of a new levy on National Non-Domestic Rates in London, TfL prudential borrowing, developer contributions along the Crossrail route and other sources.”
Hockney called on Mrs Kelly to “reconsider her sidelining of the private sector, and accept a fairer partnership for Crossrail, that allows proportionate private sector influence.”