Business Rate Supplements Bill

I am grateful for what noble Lords have said. It shows once again what a cross-party initiative Crossrail is and how much cross-party support is committed to it. That goes as much for what Members in another place as well as your Lordships have said. As the noble Lord, Lord Bates, said, it is a project that will bring significant benefits to London and the south-east. I am grateful to the noble Baroness, Lady Valentine, for bringing forward her amendments and arguing that the project is vital to the economic development of London. It has certainly been a long time in the planning stages and it is good to know that the first physical stage of construction started last week. The key to the noble Baroness’s amendment is that the financial package that will support Crossrail includes the BRS contribution. That is well below the one-third threshold that the Bill requires for a ballot, but, nevertheless, the amendment seeks to give the Crossrail project even greater certainty against challenge or arguments for a ballot, which, as the noble Lord, Lord Bates, said, would in turn import possible delay and risk into the project. We clearly want to avoid that; we need as much certainty as possible. I have listened to the repeated calls in your Lordships' House and during the passage of the Bill in another place for an exemption for Crossrail. I certainly agree with the argument that it brings major benefits across the capital, commands wide support, and is already underpinned by an Act of Parliament. Therefore, with the agreement of the Committee, I would like to accept the noble Baroness’s Amendment 62. She has already anticipated me asking her to withdraw her Amendment 41, which is unnecessary to the correct functioning of Amendment 62, which we support. I hope that that will be welcomed by the Committee.