London Assembly says Crossrail should set out forecast costs and contingency for each stage of project
Crossrail needs to be more open and accountable about its costs and programme, according to a report from the London Assembly.
The report, by the London Assembly Transport Committee, calls on it to set out its forecast costs and contingency for each part of the line and report regularly against those forecasts in order to ensure problems can be identified.
The report, released today, also argues that the burden of the £15.9bn cost of Crossrail falls unfairly upon London taxpayers. In particular it says the risks of any cost overruns fall “disproportionately” on the capital.
It says Crossrail should: “make clear what budget the company holds for 2010/11 and on what specific parts of the project the funds will be spent. It should include the forecast completion cost and a transparent statement of all contingency sums.”
It also calls for local authorities outside London to be subject to the same Crossrail levy proposed inside London.
Caroline Pidgeon AM, chair of the Transport Committee, said: “London badly needs the extra capacity and economic benefits Crossrail will bring, so political momentum must be maintained over the coming years to ensure the project is delivered."
"It must then report regularly against the project’s various cost and delivery milestones. In this way, Crossrail can be held to account for its performance and any emerging problems can be highlighted before the consequences become too great.”