For course advice & bookings call: 0808 100 3245

Crossrail fund worries London councils

The mayor of London is being called upon to make changes to the planning tariff which will fund the development of Crossrail.

Around £300 million is planned to be contributed from developers across the capital.

Councillor Merrick Cockell, London Councils' chairman, said: "The mayor must understand that the benefits of Crossrail do not outweigh the need for affordable homes and local transport improvements in the capital."

Last month it was announced that a levy would be introduced on larger business to help fund Crossrail.

Named as the Business Rates Development Supplement, two pence is to be applied to business properties with a rateable value for more than £50,000.

Mayor Boris Johnson said that the global economic situation should "not allow our investment in the future to falter".

Crossrail will increase rail-based transport capacity in London by ten per cent and it is expected it could contribute £20 billion to the UK economy.