Skip to main content

Crossrail Line: Finance

Volume 470: debated on Thursday 10 January 2008

To ask the Secretary of State for Communities and Local Government for how many years the supplementary business rate on London businesses will remain in force to pay for Crossrail. (176232)

The Mayor of London envisages levying a business rate supplement across the Greater London Authority area to service debt raised for Crossrail’s construction, which will cease once the debt has been fully repaid. As with any authority proposing to levy a business rate supplement, the Mayor will be required to undertake a statutory consultation with local businesses and other stakeholders, setting out detailed plans for expenditure, including time scales.