Labour urges support for £10.6 billion Bakerloo extension

Labour politicians are urging the Chancellor to approve a key railway extension in London. The Bakerloo line currently runs from Harrow and Wealdstone to Elephant and Castle. The proposed project would extend the line from Elephant and Castle to Lewisham, costing between £5.2 billion and £8.7 billion. There may be additional costs of up to £1.9 billion for extending the line from Lewisham to Hayes. Labour Councillor Shama Tatler emphasized the need for investment in the railway. She stated that the project is "as shovel ready as any transport scheme ever is." Other local leaders, like Brenda Dacres, the Mayor of Lewisham, argue that the project is crucial given the current housing crisis and the need to support the economy. They estimate that the extension could generate a £1.5 billion boost to the economy, create 150,000 jobs, and reduce car journeys significantly. Chancellor Rachel Reeves is set to announce her Spring Statement soon. Last week, she acknowledged the challenges the UK economy faces, stating that the government aims to improve growth and public services. Reeves has previously stated that she wants to see investment in infrastructure but also stressed the importance of understanding funding sources for such projects.