Lord Berkeleyasked Her Majesty's Government:
Whether increases in land values, such as the estimated £2.8 billion rise at Canada Wharf and Southwark tube stations resulting from the construction of the Jubilee Line, should be captured to help fund new lines such as the East London Line and Crossrail. [HL3784]
§ Lord Davies of OldhamMy right honourable friend the Secretary of State for Transport's Statement on 20 July set out the steps we are taking on identifying a funding solution for Crossrail which would be equitable for all. There may well be other projects where it would be feasible to capture potential benefits from development for the purposes of delivering the scheme.