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ELN: The cable-car planned to connect the Royal Docks on the north bank of the Thames with the O2 Arena on the south bank in Greenwich may have to be paid for with public funds, London Mayor Boris Johnson has finally admitted.
Speaking at Mayor’s Question Time, Boris Johnson said he “could not guarantee” the private sector would be able to cover the £60 million cost of setting up the cable car scheme.
Earlier this year the London Mayor had said his “aim” was to fund the construction of the scheme “entirely from private finance”.
With private finance covering the costs now in serious doubt the prospect of footing the bill for Boris Johnson’s latest pet project is the news beleaguered council tax payers across the capital have been dreading.
Severely squeezed Londoners battling with inflation in one of the most expensive cities in the world have already stumped up for the policing of the royal wedding, the state visit by Barack Obama and next year will have to put out for the Olympic Games – all of which are events few if any of them can actually attend – so this new strain on public finances could well be regarded as a step too far.
What is perhaps even more galling is the ‘elephant-in-the-room’ looming reality that the cable car won’t relieve the traffic congestion in east London which is what it was designed to do and is more likely to be used by tourists than Londoners themselves.
At the Mayor’s Question Time, Assembly Member John Biggs (City & East) told the audience, “the cable car… doesn’t seriously meet the demand for river crossings.”
He continued, “We urgently need a new road bridge or tunnel to complement the rail links recently built. And it was a very different proposition when it wasn’t going to cost anything – spending money on this will mean less cash for other worthwhile projects.”
Mr Biggs concluded that the cable car scheme was “for tourists” and “not a serious transport project”.
Boris Johnson has previously waxed lyrical about the scheme, saying, “Gliding serenely through the air across the Thames will provide a truly sublime, bird’s eye view of our wonderful city. This innovative airborne travel link will be a vital component in the ongoing renaissance of a vibrant easterly quarter of the Capital, providing a much needed river crossing. I am thrilled we are full steam ahead to start work on this project following the confirmation of a world-class consortium to deliver this brand new icon.”
However, in May, Boris Johnson was severely criticised after he declined to give any assurances to the Assembly that the Cable Car would even be ready for the Olympic Games, only saying it would be finished “when it was good and ready”.
Further concerns have also been raised about the cable car crossing the City Airport “crash-zone”.
Nevertheless, construction company Mace has been appointed by the mayor as the lead contractor to build and operate the proposed cable car and work is planned to start on the ground later this summer on what is set to be the first urban system of its kind in the UK.
