Billion pound loan means TfL could begin work by 2015
Backing for the Northern Line Extension into Wandsworth announced by George Osborne in his Autumn Statement yesterday, has been welcomed by local public figures.
Richard Tracey, London Assembly Member for Wandsworth, welcomed the commitment to provide a £1billion loan to deliver the extension of the Northern Line to Battersea.
Speaking after the announcement he said:
"This is fantastic news for London, and will be a vital piece of transport investment for my constituents. This will act as a catalyst for regeneration in the Battersea Nine Elms area, and will boost jobs and growth. I fully support the Chancellor's decision"
Local MP Jane Ellison warmly welcomed the Chancellor’s
announcement. She said: “This announcement is fantastic news for Battersea and will help to create vital growth, homes and jobs.” She continued, “Following on from recent positive moves from the new owners of Battersea Power Station and other developers, this project has now definitely got real momentum.”
Responding to the Chancellor’s statement in the House of Commons, in which he mentioned his visit to the Development Area with Jane in 2011, she drew attention to the estimated 16,000 new homes and 25,000 new jobs this development could generate. Commenting further, Jane said: “Getting the public transport solution right has always been the key to unlocking the potential of the Power Station and other sites. The Chancellor’s commitment means that TfL could begin work on the extension by 2015 which is great news.”
Director of ICE ( Institution of Civil Engineers) London, Miranda Housden, said: “The decision to provide a UK Guarantee to underwrite the estimated £1 billion investment to extend the Northern Line of the London Underground to Battersea bring this major infrastructure project a step closer.
“The scheme will extend the line from Kennington to a new terminus at Battersea and a new station at Nine Elms opening up the area for development with a projected 16,000 new homes and up to 25,000 new jobs being created in this part of South West London.
“In addition the £150 million investment in improvement works at Junction 30 on the M25, close to the Dartford River Crossing, should see improvements for road users at this busy intersection with the A13.
“ICE London welcomes this investment in London’s infrastructure by the Chancellor and, especially when coupled with the investment announced by the Mayor of London earlier this week, believes that we will see not just short term gains for London’s economy during the construction work but will see long term benefits for the capital."
December 6, 2012