By Max Clarke

A report has warned that taxpayers may end up paying for London’s £60 million cable car.

The project was unveiled in April, touted as a fast, cheap solution to the area’s transport issues.

The £60 million cable car, which will take passengers high above the river Thames, linking the ExCel centre with the O2 Arena, was intended to be entirely privately funded.

However, the tight deadline- set to be in time for the 2012 London Olympics- combined with the complexity of the project make completion of the scheme funded by investors increasingly unlikely.

Local London Assembly member, John Biggs said: “It is an attractive scheme and will hope make an impact but it is mainly for tourists and is not a serious transport project.”

“The same Mayor has delayed by another year the work he promised on the construction of road crossings. While I am sure many Eastenders will enjoy the cable car and it will improve connections it doesn’t seriously meet the demand for river crossings.

“We urgently need a new road bridge or tunnel to complement the rail links recently built. And it was a very different proposition when it wasn’t going to cost anything - spending money on this will mean less cash for other worthwhile projects."

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