Crossrail 2 - Funding and financing study

London’s projected growth is going to put strain on its infrastructure. By 2036, London’s population is projected by the Office for National Statistics (ONS) to have grown to 10.1 million, and by 2050, to 11.3 million.

Over the next 20 years, the number of jobs in Central London is projected to grow by 700,000, the majority of which will be in the Central Activities Zone (CAZ). This will put pressure on key infrastructure such as housing and transport. Although capacity is being added to London’s transport system – including Crossrail, the Thameslink Programme and the Tube upgrade - Transport for London (TfL) is forecasting that this new capacity will be insufficient to address the transport needs that London will face in the future.

It is in this context that the Crossrail 2 project is being considered. TfL is currently preparing a further strategic case for the project, but for the project to move forward a strong business and economic case is not sufficient: there must be a credible funding and financing strategy.