Airport operator BAA has given the Crossrail project a vote of confidence by pledging £230 million for the scheme, allowing it to link with Heathrow.
 
The deal is being seen as a welcome boost for the £16 billion project, at a time when the global economic downturn has cast a shadow over major construction schemes.
 
It is vital key for Crossrail, which will be part-financed by business, and follows the Government signalling that the route will not be affected.

The announcement was made at platform 6 at Paddington Station, by new Rail Minister Lord Adonis.
 
He said: "Crossrail is the largest addition to the transport network in 50 years, and today's announcement that BAA have confirmed a £230 million funding package for the project represents a major step towards its delivery.
 
Business has long been a strong advocate for Crossrail and this is borne out today.
"Trains will run four times an hour for most of the day - cutting journey times across London and the South East and significantly improving rail access to Heathrow for thousands of passengers and airport workers every day.

"This is a hugely important scheme for the country.

“Its implementation will help to generate new jobs, and so support the economy, as well as assist the revitalisation of some of London's most deprived areas by offering them a fast and reliable connection to the rest of the city."

Underlining the cross-party support for Crossrail, the Labour Minister was joined by London’s Conservative Mayor Boris Johnson.
 
He said: "The agreement with BAA is very welcome news and underlines the commitment that businesses, as well as TfL and the Government, are showing towards delivering the funding package for Crossrail.
"This is another significant step forward in preparing for the construction of this landmark new railway.

“Works have already begun at Tottenham Court Road station and the contracts to design and build the multi-billion pound project are all on track to be awarded by spring 2009.

“All parties are committed to Crossrail's success, and together we will deliver it on time and on budget."

BAA Strategy Director Mike Forster said supporting Crossrail demonstrated their commitment to improving public transport access to Heathrow.

“This vital new link will directly connect the City and Canary Wharf to the airport, complementing our existing Heathrow Express service and taking thousands of cars off the roads,” he said.

“Crossrail will be crucial in keeping London and the UK globally competitive."

The new line will run from Maidenhead and Heathrow in the west through new tunnels under central London to Shenfield and Abbey Wood in the east.

New stations will be created at Paddington, Bond Street, Tottenham Court Road, Farringdon, Liverpool Street, Whitechapel and the Isle of Dogs (Canary Wharf).

Passengers will benefit from reduced journey times to Heathrow as Crossrail will provide direct rail services for the first time from the key business centres across central London.

Building and running Crossrail is estimated to generate an extra 30,000 jobs and put at least £20 billion into the UK economy.

Work is due to start in 2010, with Crossrail becoming operational in 2017, when it will provide a 10 per cent increase in public transport capacity in London.

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