Don’t get too excited about the Government’s ‘backing’ for extending the Northern Line to Battersea.
A City Hall press release makes it clear that there a lot of hoops to jump though and a whole of conditions to be met before the project moves forward:
“Support of the extension of the Northern Line to Battersea is subject to a commitment by April 2013 from a developer to develop the site and make agreed contributions, after which the Government will consider allowing the Mayor of London and partner authorities to borrow against the Community Infrastructure Levy (CIL) to support this scheme.
“It is also considering making the area an Enterprise Zone to further support business growth”
In short, the Coalition’s ‘support’ is nothing more than allowing Boris to incur even more debt than he’s already clocked up and even then, only after a private developer stumps up hundreds of millions of pounds.