Our report into the Crossrail project (the new rail service for London and the South-East) found that the need for Crossrail has become clearer over time, as population and employment growth in London are forecast to rise.
It is expected that Crossrail’s benefits will outweigh its costs and it has the potential to bring wider economic benefits. Forecast costs are still within available funding of £14.8 billion. About half of the infrastructure work is now finished. Progress is just behind schedule, but we found that Crossrail has taken steps to improve progress and it remains confident that it will meet the planned delivery date.
However, Crossrail will not fully open until December 2019 and risks remain, in particular the delivery of the Crossrail trains and the appointment of the operator. Overall we found that Crossrail and its sponsors have protected taxpayers’ interests by early action to stop costs increasing and by tightly managing the programme during construction.
There is still a long way to go and the Department must continue to manage risks to protect its investment in Crossrail.