LondonJ: Crossrail to Get Go Ahead?
 

For several years now London's most ambitious ever perhaps transport scheme, Crossrail, has been on the drawing boards but that was it.

But now, as the Guardian reports, Gordon Brown is rumored to within his first 100 days in office "give the go ahead to Crossrail"

The much needed project to help relieve London's beleagured Underground and facilitate inter-rail termini transfers requires a 3 bn pound government direct funding to get off the ground, and though 'speculation' has Brown giving the go ahead he may not actually release the funds.

Anway Crossrail will provide a direct fast train link from Heathrow to Canary Wharf vis central London - providing seamless transfer between Heathrow and Kings Cross (though i'm not sure this is a planned stop but think so) and for business types going to and from Canary Wharf and planes.

Most importantly for the upcoming London Olympics this would be a great asset as well though it seems dubious even if Brown gives OK it could be finished by then.

Anyway Crossrail may get going finally and London joins the likes of Paris with a true underground RER type train service relieving the teeming Underground lines.

I think it's always been understood that CrossRail wouldn't be ready for the 2012 Olympics.

PatrickLondon,

You are right. If ever built, Crossrail wont be ready before 2016.

I'll believe it when I see it . Crossrail has been green lighted by sucessive governments and then quietly cancelled - it's mind bogglingly expensive.

One major reason Crossrail's not got off the drawing board is that the Treasury (Obersturmbahnfuhrer: G. Brown) hasn't been able to see a coherent financial case for it.

But how on earth can the Olympics be the "most important" factor? There'sa only one important factor: is this the best way of spending £3 bn to get us work every day? And for the past decade, every study commissioned shows it's not.

Two weeks' squandering of our money to make international bureaucrats feel important doesn't affect the arguyment for or against Crossrail. But it just shows how nonsenses like the Olympics destroy logical thinking

so you don't think it worth 3 bill (just start up money) if only for business types to be able to get from Heathrow to Canary Wharf quickly - or London will surely lose its role as Europe's business capital to Frankfurt?

I can see it now - all those abandoned financial towers in Canary Wharf.

Not only has Frankfurt fallen behind - Londion is now more important than New York for finance.

This is down to some spectacularly foolish foot-shootery by the yanks. I can't remember the name of the law, but it is the greatest self inflicted wound since Van Gogh's attempt at plastic surgery.

So pundits who said the City and its extension Canary Wharf, began by a Canadian i believe, would wither away Marxist-like with England's (or UK's) refusal to join the euro have been proved wrong?

Judging by the shiny suited knobbers I encounter when I go there - I would say yes.

It’s the Sarbanes-Oxley laws in the US that some financiers don't like. As someone who travels in Europe a great deal, but lives in London, I really wish the UK would join the Euro although I understand that in fact more Euros are traded in London every day than on other exchanges in the world anyway. Maybe joining would mean London became even MORE successful....

so what is the reason The City has become the world's defacto Financial Capital - lax laws - surfeit of skilled bankers - what is it? Beats me. Infrastructure? - in a city that is years behind most of Europe in transport.

Why? why? why?

Are there really people who, in the Internet age, choose where which hedge fund to invest in on the basis of how fast the local trains go?

We're just brighter than everyone else. And in financial services, that's the only thing that matters.

Yup - we're just clever, and years of experience ripping off foreigners helps too.

That and proper beer.

All the hedgefunds are in Mayfair anyway - Canary Wharf is mainly back office staff.

Timezones. London can conveniently overlap trading times in all the major markets. Of course, if Shanghai, Hong Kong or Tokyo were to do a night shift....

Add in the fact that all of Europe's top talent can work here - as opposed to the USAs strict work permit laws.

All that and jellied eels as well.

and i suppose they (financiers) all love football as well - another magnet?