Cash could be found for London's key transport projects

4.30.00pm GMT Mon 17th Mar 2003

Liberal Democrats would press ahead with London's key transport projects and the cash can be found – this was the message from London Assembly member Lynne Featherstone, commenting on the Party's Alternative Budget.

Speaking at Torquay from the Party's Spring Conference, Ms Featherstone said:

"Liberal Democrats have done the sums, and can pledge to Londoners that when elected we will press ahead with CrossRail and Thameslink 2000."

"This spending will be achieved by redirecting the Chancellor's unspent "Capital Modernisation Fund" to transport – funding a raft of urgently needed schemes to improve Britain's public transport."

"For London, CrossRail and Thameslink 2000 come top of the list. "

"We have high hopes that Alistair Darling will give the green light to CrossRail, but we need the important link down to Richmond and Kingston too."

"Hopes for the highly important Thameslink 2000 project which would make travel better for thousands of Londoners were dashed by the Strategic Rail Authority's dismal review recently. LibDems would fund this as a priority."

"I continue to press for a more ambitious approach to the East London line extensions which now seem to have abandoned the borough of Lambeth completely."

"The Liberal Democrat "Alternative Budget" produced by the Parliamentary Treasury team transfers would allocate £2.3 billion of Capital Spending above existing Government commitments and in addition to any supplementary spending announced in the 2003 Budget for Transport in the financial years 2003-4 to 2005-6."

"Liberal Democrat Additional Spending"

" 2003-04 2004-05 2005-06 Total"

"Railways £280m £775m £700m £1755m"

"Local Transport Plans "

" £120m £125m £300m £545m"

"Total £400m £900m £1000m £2300m"

"The additional funding will mean that the following will be allowed to proceed:"

"Major Schemes: Tied to measures to gain a wider control over costs within the railway industry. Private finance will play a major role in these schemes which include:"

"West Coast Mainline (WCML)"

"East Coast Mainline (ECML)"

"Waverley Station Redevelopment, Edinburgh (anticipating the construction of the Waverley line, taking place in future spending periods beyond 2005-6)"

"The Channel Tunnel Rail Link (including Local Services running on CTRL track)"

"Thameslink and London Crossrail.