By the time passengers can finally travel the full length of the Elizabeth Line, Crossrail is expected to have cost a total of around £19bn, including nearly £2.9bn in loans from the taxpayer to TfL and the Greater London Authority.
Originally projected to cost £14.8bn and open in 2018, Crossrail’s budget has spiralled upwards. In May 2019, the National Audit Office estimated that the funding package for Crossrail stood at £17.6bn and it wouldn’t open by March 2021.
Since that estimate, milestones were missed in 2019 and into 2020 due to Crossrail continually uncovering problems or identifying requirements for new work alongside the Covid-19 pandemic, which added further cost and delay to the programme.
In a report, the PAC found that Crossrail Ltd is still unable to give passengers or businesses a clear timetable for the opening of the Elizabeth Line or even what services will run on the line when it does open. Critical works still need to be completed...