By Dan Harvey
Feature
Crossrail Update
Transport for London is planning to sell and lease back the new trains for the Elizabeth Line to part-fund a new fleet of trains for the Piccadilly Line.
The move was revealed at a meeting of the London Assembly Budget and Performance Committee on 3 January when TfL interim Chief Finance Officer Simon Kilonback responded to a question by London Assembly Member Caroline Pidgeon. She had asked him to explain an £875 million capital receipt included in TfL’s 2018-19 budget.
