"They restate that the Bakerloo line extension is estimated to deliver £1.5 billion in additional economic value every year after it opens, and will create 150,000 jobs across the UK. They also say that building the tube extension towards Lewisham and ultimately towards Hayes would also unlock over 100,000 new homes. Of these, 20,400 would be directly enabled by the extension, while the rest would be due to the wider economic uplift."
"The business group has also previously called for the DLR extension to Thamesmead to get the go-ahead, citing the roughly 25,000 new homes that are dependent on it. BusinessLDN and WSP recently set out a proposal for how evolving the current tax-increment financing model to capture value from residential taxation from new development could help to raise up to £4.5bn to part-fund extensions to the DLR as and the Bakerloo line, as well as the West London Orbital."
BusinessLDN has renewed calls for the government to commit funding for the Bakerloo line extension and DLR extensions in the forthcoming budget. The Bakerloo line extension is estimated to deliver £1.5 billion in additional economic value each year, create 150,000 jobs across the UK, and unlock over 100,000 new homes, with 20,400 directly enabled by the extension. The DLR extension to Thamesmead is cited as enabling roughly 25,000 dependent homes. Combined, the projects would enable about 130,000 new homes in London. A proposed evolution of tax-increment financing could raise up to £4.5bn over 25 years, but upfront national grants and borrowing remain necessary to start work.
#bakerloo-line-extension #dlr-thamesmead-extension #transport-funding #housing-supply #tax-increment-financing
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