TRANSPORT Action Network (TAN) has condemned the “utterly predictable” news in the Financial Times [1] that the cost of the Lower Thames Crossing (LTC) has jumped 17% to £11bn in just 9 months.
The private investment needed has risen from £6.3bn to £7.5bn, up 19% [2]. This will lead to significantly higher tolls being charged at Dartford and the LTC, to repay the debt, much as predicted. TAN has previously calculated that tolls at Dartford could triple to pay for the LTC [3].
Chris Todd Director of TAN, said: “Those cheering on the Lower Thames Crossing will find themselves short changed, as costs have predictably ballooned. This will result in higher tolls at Dartford and LTC for decades to come, much as we have previously predicted. National Highways’ traffic data shows the LTC will bring just five years relief at Dartford, for seven years of construction chaos. This is bad for growth and bad for the country.
“The LTC will drain the economy, diverting critical funds away from better value rail projects such as Ely junctions [4]. These would drive growth across the whole country rather than pouring more money into London to congest the south east.”
