There are 64 transport schemes under consideration for London, fromnew tube and train lines to additional bus and tram routes, but simply notenough money to implement them, says a new study by the RICS. Costs areestimated at £53-£76 billion ($84-$120 billion), with a gap in funding ofaround £35 billion ($55 billion). These deficits mean that many schemes willnot even reach the drawing board.

The study Funding London's TransportNeeds draws attention to the shortfalls in the current transport system andfrom identifies 16 core schemes--massively reducing the costs to £33-£39billion ($52-$62 billion), although still leaving a substantial funding gap.Among the 16 schemes are CrossRail, a DLR extension to London CityAirport, upgrading the A13 and a Peckham to Camden cross river tramlink.

The research, carried out for RICS by GVA Grimley, also looks at thetiming, status and funding available for each project and suggests 17funding methods that could be used to close the current funding gap, andalso generate more funding in the future. These include property-related anddevelopment taxes, sales and gambling taxes, workplace and general parkingcharges and motor taxes.