A statement from The Rt Hon Margaret Hodge MP, Chair of the Committee of Public Accounts:
The Crrossrail project has been well managed and controlled to date. It is on track to deliver on time and within budget, and they deserve praise for their success so far.
I was concerned to learn that in 2009, the estimated costs of Crossrail had increased to £17.8 billion. However, Crossrail Limited, the Department for Transport and Transport for London appear to have worked together to reduce these estimated costs by around £3 billion, which is £1.1bn below the initial funding package.
The Department must now continue with the good work it has been doing with Transport for London and Crossrail Limited to ensure that they deliver the expected benefits of this vital project.
In particular they must get on with awarding the contract for the trains that will run on the line to avoid any delay in services starting.