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<p>The Government, the Mayor of London and Transport for London (TfL) announced on
10 December 2018 a financing package to deliver the final stages of the Crossrail
project and open the Elizabeth line to passengers. The Department for Transport will
provide a loan of up to £1.3 billion to the Greater London Authority (GLA). The GLA
intend to repay this loan via London’s Business Rate Supplement (BRS) and from the
Mayoral Community Infrastructure Levy (MCIL).</p><p> </p><p>As the Government is providing
a loan to the GLA, this is being treated as a long-term reprofiling of DfT’s budget.
The Devolved Administrations (DAs) have been offered Barnett consequentials of the
DfT reprofile and it is up to individual DAs if they take up this offer.</p>
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