Crossrail set to boost London businesses by £49 billion

London businesses could be in line for a £49 billion boost once Crossrail opens, reports.

The cross-city link was developed in a bid to combat London’s forecast population explosion, with some ten million people expected to call the capital “home” by 2031. In offering a quicker and quieter route across London, however, Crossrail could also boost businesses operating in the capital, with annual gains of £49 billion touted as a reasonable expectation.

It is not only the shorter, quieter journeys that will attract new business opportunities to London; Crossrail has also been deemed to be a more reliable option than many others currently on offer to travellers in and around the capital. Thus, it could help businesses create new jobs in London, as well as make getting to work much quicker, easier and more reliable too.

Crossrail will run between Wimbledon in the south of London and Alexandra Palace in the north, whilst also calling at a number of suburban stations including Surbiton and the Upper Lea Valley.

“London needs a transport network that can cope with the millions of extra passengers that will travel on our tube and trains in future,” transport committee chair Valerie Shawcross told of the benefits.

“The cost-effective investment needed to construct Crossrail 2 will herald sustainable rewards, potentially boosting London’s economy by up to £49 billion, not to mention much-needed relief to passengers suffering on some of the UK’s most crowded services. Crossrail 2’s construction should be the catalyst to realise London’s Olympic regeneration dream.”

by David Howells on July 31, 2013

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