Mayoral CIL not enough to cover Crossrail costs
Mon 25th February 2013, 12:23 pm
The amount of money collected through the mayoral community infrastructure levy to be spend on Crossrail, is less than half the amount that was earlier projected, according to reports.
In 2012/2013, total levies were expected to amount to £14.6m, according to a report in Planning magazine. But in reality, only between £5m and £6m has been raised.
In total, the levy is to raise £300m to contribute to the Crossrail price tag of £14.5b.
In 2012, the highest amount of levies were collected in Southwark, while no money at all was raised in Kensington & Chelsea.
Borough profiles on the Sitematch London website contain more information regarding Mayoral and local CILs, including charging schedules and timetables for adoption.