The City of London Corporation has finally agreed to help fund the 拢16bn Crossrail project but will stump up a maximum of 拢250m, less than the 拢350m the government was hoping for.

The decision came after a meeting of the City of London鈥檚 Court of Common Council in London鈥檚 Guildhall on Tuesday.

Speaking earlier in the week prime minister Gordon Brown said the government would only fund Crossrail if business agreed to pay a 鈥渟ignificant contribution鈥�.

The corporation declined to say how much it will contribute but City insiders said it would 鈥渘ot be more than 拢250m鈥�.

Brown said details about government funding for the project would be provided in the Comprehensive Spending Review, which is expected later this month.

One said: 鈥淲e already gave at the office, in taxes. The government can foot the rest of the bill with some of that money."