"Bruce" wrote in message
...

True, and the original cost estimates were made at a time when
construction prices were not only at a record high, but projected to
continue rising at a rapid rate.

The recession hit construction very hard and there is no sign of any
recovery. On the contrary, forward order books are at a very low
level. So prices have dropped considerably.

I gather from someone I know at Crossrail that the overall estimated
cost for the project has now dropped by around **£2 billion** from the
original estimates. I think that means we are now looking at an
outturn cost of around £14.7 billion at 2009 prices.

Isn't that traditionally one of the arguments for a programme of public
works in recessionary times - that you can get good value for money?

Regards

Jonathan