Gordon Brown, the Prime Minister, confirmed on 5 October, 2007, that Crossrail has the funding to go ahead.
On a visit to the Crossrail offices in central London, Mr Brown said that the construction of the line would be of "enormous importance, not just for London but for the whole country'' and would generate up to 30,000 new jobs.
He emphasised: 'For decades the idea of Crossrail - a major new railway link connecting central London, the City and Canary Wharf to Heathrow and to commuter areas east and west of the capital - has been a long-held dream for business and Londoners alike.
'I am pleased to be able to confirm to you all today that we have now reached final agreement on the funding that is needed. Full details will be announced next week but I can say today that both the private and public sectors have made major financial commitments and that the project will now definitely proceed.'
The details of the funding arrangement were given on 9 October in the Comprehensive Spending Review, announced in Parliament by the Chancellor.
Boris Johnson, Mayor of London, said in response to Royal Assent for the Crossrail Bill on 22 July 2008:
'I am absolutely thrilled that work can now begin on one of the largest projects ever seen in the capital, a project that is vital to the future prosperity of our city and a project that has the potential to improve the lives of many thousands of Londoners.
'Crossrail will shorten journey times for Londoners and visitors to our city whether they are heading for the bright lights of the west end or the citadels of commerce at Canary Wharf. But most importantly it can act as a catalyst for regeneration across the whole of our city, particularly in the east of the capital.
'Londoners living in the east will have far greater access to jobs in the centre of London and we expect to see the areas where they are living flourish from private sector investment in housing and development. All this and Crossrail even pays for itself. That is what I call a cracking deal for the capital.'
