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Author Topic: Crossrail - further delay  (Read 8132 times)
grahame
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« Reply #75 on: November 21, 2020, 07:59:09 pm »

And from the RMT

Quote
RMT Press Office:

As speculation grows that Crossrail could be mothballed RMT demands Government stop using TFL and its workers as a political football.

Responding to reports that the Capital's Crossrail line could be mothballed without immediate funding transport union RMT today called on the Government to stop using TFL as a political football.

RMT General Secretary Mick Cash said:

"What's happening between the Government and TFL is nothing short of a disgrace. As we approach next year's London Mayoral Election it's clear the Government are using TFL and our members as a political football and rather than stick to their pledge of "Building Back Better" they're starving TFL of vital funds and playing games with worker's livelihoods.

"London transport and its workforce are vital to the economic recovery from Covid-19 and RMT will not be afraid to do whatever is necessary to protect our member's jobs and livelihoods"
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« Reply #76 on: November 21, 2020, 08:31:33 pm »

This is not an increase in the projected cost - for once. The last time the estimated cost to completion rose was in August, when adding Covid-19 the the previous figures (updated) was reported as an extra ?450M. Negotiations between TfL and DfT on who will pay and when have not got far - and of course TfL and London are broke. This is all in a paper from the last TfL board meeting (20th October):
Quote
8 Funding Position and Financial Implications

8.1 On 7 December 2018, a Chair?s Action paper entitled ?Crossrail Update? was approved, giving an increase to Crossrail funding of ?2.15bn to an overall financial envelope of ?14.964bn (excluding Network Rail costs), reflecting the need for additional funding announced by CRL in the summer of 2018. This funding was negotiated with Government and included a ?750m loan facility between TfL and the Secretary of State, along with a GLA grant to TfL of ?1.4bn.

8.2 In November 2019, CRL announced that additional funding over and above the ?2.15bn funding package would be required to complete the project. At that time, an estimate of additional funding, at differing levels of probability, of between ?400m and ?650m was provided by CRL. Funding discussions with government on how to resolve this funding gap took place during the following months, but progress with government remained slow. Once the Covid-19 crisis began, the focus of funding discussions with government shifted to immediate issues related to TfL?s wider financial position and it was acknowledged by all parties that Crossrail funding would be dealt with at a later point as part of the H2 negotiations, when the impact of Covid-19 on CRL?s funding requirement was better understood.

8.3 On 21 August 2020, CRL announced that the previously stated funding gap of between ?400m and ?650m had increased, on an emerging basis, to up to ?1.1bn.

8.4 CRL has not yet fully utilised the current ?2.15bn funding package in cash terms and this is expected to be exhausted in March 2021. However, the full amount of the existing funding package is anticipated to be fully committed by mid-October 2020. At this point, if funding discussions are not concluded, CRL will be unable to make any further financial commitments.

8.5 TfL and the GLA are working through potential funding proposals that seek to close this gap. Government has consistently stated that ?London should pay?, irrespective of the fact that the majority of the economic benefit of the project flows to the exchequer. However, the options for London based funding are extremely limited, even more so post-Covid-19, and are inherently interdependent on both TfL and the GLA?s wider financial position, which have suffered substantial adverse impacts as a result of Covid-19. These discussions will remain ongoing as part of wider funding discussions with government and will be progressed in parallel to the governance transition.

There is also a lot about structural changes - not to the tunnels, this is "governance": moving the board chairs on a sinking ship.
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« Reply #77 on: November 21, 2020, 09:14:40 pm »

This is not an increase in the projected cost - for once. The last time the estimated cost to completion rose was in August, when adding Covid-19 the the previous figures (updated) was reported as an extra ?450M. Negotiations between TfL and DfT on who will pay and when have not got far - and of course TfL and London are broke. This is all in a paper from the last TfL board meeting (20th October):
Quote
8 Funding Position and Financial Implications

8.1 On 7 December 2018, a Chair?s Action paper entitled ?Crossrail Update? was approved, giving an increase to Crossrail funding of ?2.15bn to an overall financial envelope of ?14.964bn (excluding Network Rail costs), reflecting the need for additional funding announced by CRL in the summer of 2018. This funding was negotiated with Government and included a ?750m loan facility between TfL and the Secretary of State, along with a GLA grant to TfL of ?1.4bn.

8.2 In November 2019, CRL announced that additional funding over and above the ?2.15bn funding package would be required to complete the project. At that time, an estimate of additional funding, at differing levels of probability, of between ?400m and ?650m was provided by CRL. Funding discussions with government on how to resolve this funding gap took place during the following months, but progress with government remained slow. Once the Covid-19 crisis began, the focus of funding discussions with government shifted to immediate issues related to TfL?s wider financial position and it was acknowledged by all parties that Crossrail funding would be dealt with at a later point as part of the H2 negotiations, when the impact of Covid-19 on CRL?s funding requirement was better understood.

8.3 On 21 August 2020, CRL announced that the previously stated funding gap of between ?400m and ?650m had increased, on an emerging basis, to up to ?1.1bn.

8.4 CRL has not yet fully utilised the current ?2.15bn funding package in cash terms and this is expected to be exhausted in March 2021. However, the full amount of the existing funding package is anticipated to be fully committed by mid-October 2020. At this point, if funding discussions are not concluded, CRL will be unable to make any further financial commitments.

8.5 TfL and the GLA are working through potential funding proposals that seek to close this gap. Government has consistently stated that ?London should pay?, irrespective of the fact that the majority of the economic benefit of the project flows to the exchequer. However, the options for London based funding are extremely limited, even more so post-Covid-19, and are inherently interdependent on both TfL and the GLA?s wider financial position, which have suffered substantial adverse impacts as a result of Covid-19. These discussions will remain ongoing as part of wider funding discussions with government and will be progressed in parallel to the governance transition.

There is also a lot about structural changes - not to the tunnels, this is "governance": moving the board chairs on a sinking ship.

And no doubt some cats will get chubbier and as the violin plays "Nearer My God to Thee"
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« Reply #78 on: November 21, 2020, 09:38:20 pm »

Given the government's stated ambition is to end the imbalance of investment towards London and South East this is politically difficult for them even before you add the politics of a Labour Mayor and a very Conservative government and a mayoral election in May.
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