The Value Capture Scheme for Cross Rail

A lot of the metrics that we have in terms of funding light rail lines and subways etc get kind of wonky. Cross rail has generated about five point five billion pounds in value even though it won't start operating for another year. We did put a value capture scheme in terms of business rates across london initially but there were some areas 50 miles away from cross rail's alignment who didn't want to pay all this extra business rate for cross rail. It was then restructured into three tiers towards the line itself, within striking distance in the line and then a low payment.