Crossrail could swallow up another £1bn in funding and be delayed beyond 2019, ministers are expected to admit this week.
The flagship construction project to create a new high-capacity train line across London had originally been due to be opened on Sunday by the Queen, but problems with complex new signalling systems delayed testing trains in the central core. Confirmation that the opening was
postponed by up to a year was only announced at the end of August.
According to the Financial Times, ministers could announce a further £1bn bailout for the scheme as early as Monday.
The
resignation of chair Sir Terry Morgan last week – from both Crossrail and the next big British rail scheme, HS2 – has heightened speculation that further problems were yet to be disclosed.
City Hall and the Department for Transport (DfT) have been in continued talks with Crossrail to assess the full extent of the shortfall and delay. Twice already this year, the government and Transport for London have injected further funding, of £600m and a
£350m loan, for a scheme long hailed as being delivered on time and within its £14.8bn budget.