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The Bakerloo line extension to Lewisham could be completed by 2029, Transport for London revealed today.

The long-awaited extension has been confirmed by Transport for London following public consultation and includes two new underground stations on Old Kent Road.

It comes just days after Southwark and Lewisham councils revitalised efforts to extend the line arguing that the new stations would boost plans to regenerate Old Kent Road.

Under the new plans released on Wednesday, the Bakerloo line would be extended from Elephant and Castle to Lewisham.

The Bakerloo service would also have two stops on Old Kent Road along with a stop at New Cross Gate.

Proposals have been mooted for years but Mayor Sadiq Khan admitted that there was a substantial gap remaining between the £3.1bn cost and what Transport for London can afford to pay.

The mayor hopes that construction can start during 2023, subject to funding.

The new plans reveal that the line extension could be completed by 2029.

According to TfL, the extension would support at least 25,000 new homes and 5,000 new jobs.

It would also add extra capacity on the London Underground network for 65,000 journeys in the morning and evening peak hours.

Heidi Alexander, deputy mayor for London transport said: “I’m delighted that plans for the Bakerloo line extension are continuing to progress.

"New Tube stations providing a direct route for commuters into the heart of central London and the joining up of key transport links across south London will reduce journey times and ease congestion, making a huge difference to the lives of thousands of south Londoners.”