Taxpayer bailout to save a Crossrail station looks likely

The station, with an estimated price tag of £150 million, was supposed to be paid for by private finance Photo:

A taxpayer bailout to safeguard a Crossrail station at Woolwich looks increasingly likely.

The station, with an estimated price tag of £150 million, was supposed to be paid for by private finance, with a major contribution from housing developer, Berkeley Homes.

But a funding dealinvolving Berkeley and Transport for London still has not been signed.

Drawings mark where the tunnels are planned on being built for the trains

A decision to complete the half-built station is urgently needed if it is to open on time in 2018.

The TfL board will be asked on Thursday to approve the work, despite the lack of a finance agreement.

Board papers reveal the final cost will now include additional contributions from the TfL and Crossrail budgets.

Speaking today the Mayor of London Boris Johnson told ITV News London that all would "be okay" in this "joint venture between the private sector and the the public".