In the News
CrossRail delayed until 2021 as costs overrun
More supply-side problems laid bare here with the news that Crossrail is going to be both further delayed and cost nearly £700m more than the current estimate.
It's another example of the frustrations associated with infrastructure investment and the perils of not undertaking investment appraisals with a range of discount rates, over different time periods and with different costs. It is a complex business, and you might argue that we are too keen to deal in 'certainty' when the unknown unknowns often appear to derail - no pun intended - many such projects.
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