Big Business Must Help Fund UK Crossrail

London's municipal governing body, The City of London Corporation, is putting together a £150m levy on large companies across London to help to pay for the £16bn Crossrail project, according to an investigation by UK newspaper The Times.

Earlier this month, The City of London Corporation agreed to pay out £350m for Europe's largest civil engineering project, expected to boost London's overall transport capacity by 20%.

City businesses have been charged with raising £150m, with the biggest 100 to 150 companies providing funds proportionate to their respective sizes, according to The Times.

Crossrail, due to be completed by 2017, will link east-west commuter routes and provide easier access to Heathrow Airport.

By staff writer