Standards and levels of service on Crossrail are to be tightly controlled by the London mayor’s transport body, Transport for London. Financial Times

It emerged yesterday in the comprehensive spending review that TfL is to take over sole ownership of Cross-London Rail Links, the company in charge of building the £16bn east-west London rail link that received the go-ahead last week, which is currently a 50:50 joint venture between TfL and the Department for Transport.

The chancellor also announced new powers for London’s mayor to charge businesses across London an annual rateable value of more than £50,000 a supplementary business rate of 2p in the pound from April 2010.