In the News
CrossRail delayed until 2021 as costs overrun
11th November 2019
More supply-side problems laid bare here with the news that Crossrail is going to be both further delayed and cost nearly £700m more than the current estimate.
It's another example of the frustrations associated with infrastructure investment and the perils of not undertaking investment appraisals with a range of discount rates, over different time periods and with different costs. It is a complex business, and you might argue that we are too keen to deal in 'certainty' when the unknown unknowns often appear to derail - no pun intended - many such projects.
Crossrail Delay: Line will not open until 2021 as costs increase https://t.co/jy7iZ5sQLm
— BBC News (UK) (@BBCNews) November 8, 2019
Crossrail
— Simon Calder (@SimonCalder) November 8, 2019
The first casualty of lousy project management is often the next big idea.
HS2, the much needed north-south rail link (whose main purpose is capacity, not speed) is already over budget, over time and vulnerable to short-term political expediency.https://t.co/C3c2GSaOB1
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