Crossrail, the UK's £14.8bn rail line connecting London's far western suburbs with its eastern ones, either represents the end of an era or the beginning of one, according to today's New York Times:
Before Britain voted last summer to leave the European Union, Crossrail was conceived for a London open to the world and speeding into the future. Now, with Brexit, the nightmare scenario is that this massive project, to provide more trains moving more people more quickly through a growing city, ends up moving fewer people more quickly through a shrinking city.
Extending roughly 110 km, it is built to speed about 200 million passengers a year in a kind of Y from far to the west of the city, in the county of Berkshire, through Heathrow, to the heart of London, forking east to Shenfield in Essex and to the neighborhood called Abbey Wood, on the historically neglected southeast side of the Thames River. Linked with the existing Underground subway network, it will be rechristened the Elizabeth Line, inserting what is in effect a new steel-and-wheels spine into Britain’s capital.
“The danger with Brexit,” [George Iacobescu, Canary Wharf’s longtime chairman said], “is that if Britain gets out of the European Union and doesn’t keep the U.K. an attractive place for financial institutions, they will think twice about growing here. The issue isn’t banks leaving Canary Wharf. Most of them have long-term leases. The issue will be the pace of growth.”
But that’s not quite true. Because of Brexit worries, construction plans for several of Canary Wharf’s new buildings have already been put on hold. And long-term leases can always be broken.
The subway will open to passengers in 2018.