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May 19, 2008

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Phil Taylor

I have been studying the Heads of Terms for Crossrail and it is quite clear that Livingstone made a bad bargain for Crossrail. The government is only providing £5 billion out of the £16 billion required, even though London sends £18 billion net every year to the Treasury. The HoT says if it goes tits up then the government takes over and TfL keeps its £3.5 billion debt - great negotiating.

Now we hear that Livingstone not only cocked up Crossrail before it started but he has compromised Tube investment into the bargain.

No wonder he was muttering darkly about the risk of getting Crossrail wrong before the election - he knew it was screwed already.

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