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Proceeding contribution from Mark Field (Conservative) in the House of Commons on Thursday, 3 June 2010. It occurred during Adjournment debate on Crossrail.


Crossrail

As the right hon. Gentleman is coming to funding, does he agree that, although we all appreciate that these are difficult and constrained economic times, in many ways we are beyond the point of no return? I very much agree with what he and other Opposition Members have said about the benefits that would extend beyond south-east London through to the country, and as he has rightly pointed out, the business rate supplement is already in place. Huge amounts of money have been raised, both from Canary Wharf Group and the City of London. We always talk about the £16 billion package, but in fact the central Government sum is considerably smaller, at around £5.5 billion, of which £2.5 billion has already been spent—I think of the areas in my constituency around Tottenham Court road, Hanover square and Bond street in Mayfair. Does the right hon. Gentleman agree that, in essence, we are beyond the point of return? Money has already been spent, but the central Government sum to be spent from this point on is very small in the general scheme of things.


Secondary information

Type
Proceeding contribution
Reference
510 c691 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Cost effectiveness Capital investment Elizabeth line High speed trains Public transport Railways Woolwich
Link
View this Proceeding contribution on www.publications.parliament.uk