Crossrail needs a further taxpayer bailout and could blow its budget by up to £1bn if it is to open next autumn, The Sunday Times can reveal.
It was announced on Friday that the opening of the new east-west London line would be delayed from December until next September. It is thought to need hundreds of millions pounds of extra funds to meet its new deadline.
“Time is money,” said an industry source.
The Sunday Times revealed in May that Crossrail was set to exceed its £14.9bn budget by about £500m due to problems finishing the line. Rail minister Jo Johnson confirmed in July that the budget had risen by £590m to £15.4bn. That sum was split between Transport for London (TfL) and the Department