London Underground upgrade costs to rise by over £1bn
The cost of upgrading and modernising huge sections of London's Underground has risen dramatically by more than £1 billion and will be delayed by three years more than was originally estimated.
These problems are a result in part by the collapse of a crucial contract to replace the systems 'antiquated' signals.
The work on the Circle, District, Hammersmith & City and Metropolitan Lines won't be finished now for seven years instead of 2018 as was originally planned.
ITV London reports that the delay has seen the total cost rise by 30% to £5.54bn from £4.26bn.
However London Underground claims that when the modernisation is completed, commuters will experience a significant improvement in services.
The number of trains on the Circle Line will double and their frequency will come down from every 10 minutes to every four minutes. London Mayor, Boris Johnson said the work would ensure the British capital's position as one of the world's leading cities in which to visit, live or work.