With an estimated completion date of 2035, the project is one of a number that will transform how we get around the capital in a decade’s time.
There are also plans for expansion at Gatwick and Stansted airports as well as plans to improve stations and train lines around the capital.
Here are eight public transport projects that will be taking shape over the next 10 years.
How Heathrow Airport could look with another runway
Heathrow Airport
Heathrow Airport’s third runway
London’s busiest airport – and Europe’s – could finally get its long-mooted third runway under plans announced by the chancellor, which include ground being broken this parliament.
The third runway plans received parliamentary approval in June 2018, despite fierce local opposition, and will now need a development consent order to go ahead.
“We have asked Heathrow to come forward with plans by this summer, and then we want to grant that development consent order by the end of this Parliament, so we can get the diggers in the ground to get this project up and running,” Ms Reeves said.
Heathrow has pushed for the runway to “create more jobs and drive trade, tourism and inward investment to every part of the country”. The proposal would be for a new runway north of the current northern runway, which would overlook the M4.
The go-ahead is in defiance of the wishes of Sir Sadiq Khan, the mayor of London, who commented: “I remain opposed to a new runway at Heathrow airport because of the severe impact it will have on noise, air pollution and meeting our climate change targets.”
Gatwick bosses want to bring its emergency runway into routine use
PA Archive
Gatwick Airport’s second runway
It is not just Heathrow – at Gatwick Airport there are plans to add a second runway by moving its northern run-off strip by 12 metres to create an additional take off and landing spot.
The HS2 project has been riddled with problems
PA Archive
What must be the most ambitious, contentious and ultimately underwhelming infrastructure venture of modern times has been the High Speed 2 (HS2) project.
After value engineering by the Sunak government, the Labour administration is set to press ahead with the fast link from London Euston to Birmingham Curzon Street.
But it has been anything but a smooth journey for this train line, which has run into problems with eco-campaigners and budgets, and has had its scope markedly reduced since inception.
How the Bakerloo line could go south
TfL
TfL said: “A viable funding package is needed to build the Bakerloo line extension. We’ll continue discussions with the Government while being realistic about the funding London could contribute to an extension over the coming years.”
Stansted wants to enlarge its concourse
PA Archive
Work is to start this year on a five-year project to expand the terminal at the Essex airport, which could become the second most used around the capital after Heathrow.
Liverpool Street could be transformed under plans
Supplied
Liverpool Street improvements
The Windrush line might get a new stop close to Millwall’s football ground
Ross Lydall
New Overground station in Bermondsey
If plans go ahead, the Windrush line station would link Surrey Quays and Queen’s Road Peckham.
Lime will have 400 staff keeping its bikes off pavements
Lime
Improved cycling facilities
TfL has plans to develop and improve cycle ways across the capital including links from Wembley to Willesden Junction, Camden to Tottenham Hale, Hackney to Isle of Dogs, Greenwich to Woolwich and Brentford to Hounslow.