Councils strike financing deal on Northern line extension

摘要

Wandsworth and Lambeth councils are set to use local business rates to help pay for the extension of the Northern line to Battersea, as part of an innovative funding deal to realise construction of the project. Under the plans, the Greater London Authority (GLA) will borrow up to ￡lbn to pay for the extension, with a repayment guarantee provided by the government.