§ Mr. Tony Banks
To ask the Secretary of State for Transport how much of the cost of constructing the Jubilee line extension will be paid for by(a) developers, (b) fare payers, and (c) the Treasury.
§ Mr. Portillo
In my right hon. Friend's written answer of 16 November to the hon. Member for Hendon, South (Mr. Marshall)Official Report column 398, he said:The Jubilee extension will cost about £l billion in today's prices to which developers will over time be making a cash contribution of over £400 million.
We do not yet know the full total of developer contribution as negotiations with some are still continuing. London Regional Transport's present fare revenue is not earmarked to particular projects; and the fare revenue that will be generated by the Jubilee line extension itself will depend upon decisions on fare structures and levels that will not be determined by London Regional Transport until much nearer the opening of the line. In the meantime the Government will meet that proportion of the costs of the line not covered by developer contributions.