Delayed Crossrail scheme given £350m bailout by government

By Hamish Champ2018-10-26T12:42:00

Short-term loan agreed after £15bn project delayed by up to a year

The government today announced it has pumped £350m into Crossrail to keep the £15bn project on track after it was revealed in August the high profile transport scheme was likely to be delayed by up to a year.

Described by the Department for Transport as an “interim measure” the interim loan will take the form of short-term repayable financing made available to the Mayor of London’s office for the remainder of the current financial year.

“This will ensure that full momentum is maintained behind Crossrail,” the government added.

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