Crossrail, Tube investment worth £78bn to UK economy

first_img whatsapp INVESTMENT in Crossrail and Tube upgrades are worth £78bn to the UK economy, the London Assembly’s transport and economic development committees have argued in a letter to chancellor George Osborne. KCS-content Crossrail, Tube investment worth £78bn to UK economy The committees urged Osborne to protect Crossrail and Tube upgrade work from the austerity cuts, warning to do so would be a “false economy” for London and the rest of the UK.“These are major strategic transport projects which are crucial to delivering much needed improvements to London’s transport system and ensuring its long-term economic prosperity,” they wrote. “In turn, they have the potential to generate wider benefits for the whole UK economy.”Crossrail is expected to contribute at least £36bn to national GDP over the next 60 years, while the Assembly committees said one estimate put the potential government earnings from the project at £22bn over 10 years through extra tax take, increased property levies and fare profits.Passengers use the Tube for over a billion journeys per year, they said, meaning it is crucial to invest in the network to ensure London remains an attractive place to live and work.Mayor of London Boris Johnson has been vocal in his efforts to persuade Prime Minister David Cameron of the importance of maintaining investment in London’s transport. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads Tags: NULL Tuesday 14 September 2010 8:39 pm whatsapplast_img read more