Crossrail crisis: Businesses react to £1.4bn bailout and further delay December 11, 2018 The crisis facing Crossrail deepened yesterday as Transport for London (TfL) confirmed that the delayed project could need up to £2bn in extra funding to keep afloat. Crossrail chief executive Mark Wild also admitted that the railway, which had already been delayed from December 2018 to autumn 2019, may not open until 2020. While the [...]
Crossrail crisis escalates as TfL confirms up to £2bn cost overrun and possible delay to 2020 December 10, 2018 The crisis facing Crossrail deepened today after Transport for London (TfL) admitted that the delayed project could need an extra £2bn in rescue funding to stay afloat. The Elizabeth Line, which will stretch from Heathrow in the west to Abbey Wood in the east, was projected to cost £15.4bn and to open by 9 December [...]
TfL and Crossrail to pay £15m to Canary Wharf Group if Elizabeth Line station is not complete by 2021 December 6, 2018 Transport for London (TfL) and Crossrail could have to fork out £15m to the Canary Wharf Group if its new Elizabeth Line station is not complete by 2021, City A.M. can reveal. An email from outgoing Crossrail chief executive Simon Wright, seen by City A.M., reveals that TfL and Crossrail will have to pay the sum each year if the station [...]
Sadiq Khan slams Westminster Council for pulling out of £80m TfL Oxford Street redevelopment plans December 6, 2018 Sadiq Khan has slashed £80m of funding from Westminster City Council (WCC) for redeveloping Oxford Street, after finding out the council had ditched joint plans with Transport for London for the project in favour of its own £150m proposal. In a letter seen by City A.M., addressed to council leader Nickie Allen, the mayor of [...]
Crossrail boss Terry Morgan resigns after Sadiq Khan spat December 5, 2018 The chairman of Crossrail and HS2 has resigned from both roles following a dispute with mayor Sadiq Khan over delays and spiralling costs. Terry Morgan admitted last week he expected to be sacked amid rising costs and opening delays to both the Crossrail and HS2 projects. Morgan, who has led Crossrail for almost a decade, [...]
Sadiq Khan hits back at Terry Morgan over Crossrail comments December 3, 2018 Sadiq Khan has hit back at Crossrail chairman Terry Morgan over comments he made about what the mayor knew about the project’s delay. The soon-to-be-sacked Morgan told the BBC earlier today that he was in “absolutely no doubt” that Khan was told on 26 July that it was no longer feasible to deliver Crossrail, also known [...]
Rail regulator fines TfL and Balfour Beatty over £400,000 for injury of rail worker December 3, 2018 The rail regulator has fined London Underground and Balfour Beatty more than £400,000 for breaking health and safety laws that led to a worker suffering life-changing injuries. London Underground was fined £100,000 while construction giant Balfour Beatty was hit with a £333,000 fine. Both bodies pleaded guilty to breaking the laws, which resulted in worker [...]
Crossrail chairman Terry Morgan ‘in no doubt’ that Sadiq Khan was told about project delay in July December 3, 2018 The soon-to-be sacked HS2 chairman Terry Morgan has insisted he told Sadiq Khan that the £15.4bn Elizabeth Line was not going to open on time at least a month before the London mayor said he knew about the delay. Morgan, who has led the Crossrail project for a decade, told the BBC that he was in "absolutely no [...]
Embankment traffic harming 15,000 east London businesses, study warns December 2, 2018 Heavy traffic on the Embankment is causing serious economic harm to east London businesses, a new study has warned. Research by transport economists Volterra Partners revealed the removal of a traffic lane on the A3211, which runs between Westminster Bridge and Tower Hill, has significantly increased journey times. Volterra partners said increased congestion has meant [...]
Rail fares will rise by 3.1 per cent in January despite timetable chaos hurting commuters November 30, 2018 Rail fares will rise by an average of 3.1 per cent in the new year, according to the Rail Delivery Group, hitting millions of commuters’ wallets. The increase means many passengers will pay around £100 more for their season tickets, despite a year in which travellers have suffered strikes, delays and timetable chaos on many [...]