Question to the Department for Transport:
To ask the Secretary of State for Transport, with reference to the Transport for London press notice, published 1 December on an agreed funding and financing package for the final phase of the Crossrail project, (a) what is the total value of the loan, (b) what is the repayment period of the loan, (c) do interest rates agreed in the package accord with the current Public Works Loan Board and (d) if he will make a statement.
On 1 December, the Government announced that additional borrowing of £825m will be made available to the Greater London Authority (GLA) for the purposes of Crossrail. The terms of the loan remain commercially sensitive. The Secretary of State for Transport provided a statement on this matter on 1 December.