Douglas Oakervee, chief executive of Cross London Rail Links, the man in charge of designing and building Crossrail, said there is 'every indication' that the Treasury would have agreed a package to pay for the long-delayed scheme by the time the bill for the trans-London rail project cleared parliament early next year. Financial Times

He also revealed that the final costs for Crossrail were projected to be less than £15bn, including a contingency of up to 35%, about £1bn less than government forecasts.

The scheme, which would link Heathrow with the east of London, via the City and Canary Wharf, could start to run in 2015 with trains capable of carrying 1,500 passengers.

The bill to allow Crossrail to be built is due to complete its passage through the Commons this summer and should receive royal assent by the second quarter of next year.