London’s long-awaited Crossrail could soon become a reality after the City of London said it would support a financial contribution to Crossrail.

In a statement released this evening the City said: ‘At a special meeting held this afternoon at the Guildhall, the City of London's Court of Common Council voted, after lengthy discussion, to support a financial contribution to Crossrail. Further announcements on a full Crossrail funding package will be made by the Government in due course.’

It is the latest sign that the £16bn cross-London transport link might finally get the go-ahead. Yesterday Prime Minister Gordon Brown said after intense weekend negotiations the Government would provide funding for one of the UK’s largest-ever building projects if businesses contributed as well.