Speaking today, 24 July, Transport Secretary Chris Grayling said he is a supporter of the scheme, however given it's price tag "we have to ensure that we get this right".
The project is a proposed rail route in South East England, running from nine stations in Surrey to three in Hertfordshire, providing a new rail link across London on the Crossrail network.
The development, which is predicted to open by the 2030s, is estimated to cost around £30 billion.
Last week, Transport Secretary Chris Grayling and Mayor of London Sadiq Khan held a meeting to discuss a way forward for the scheme.
At the meeting, both Mr Grayling and Mayor Khan agreed London needs new infrastructure to support its growth and "ensure it continues as the UK's economic powerhouse".
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Work is now taking place to see how London could fund half of the scheme during construction. In addition, work is to be carried out examining ways to improve affordability while maximising the key benefits of the scheme, learning lessons from Crossrail 1, ahead of this autumn's Budget.
Mr Grayling said: "I am a supporter of Crossrail 2 but given its price tag we have to ensure that we get this right. The Mayor and I have agreed to work together on it over the coming months to develop plans that are as strong as possible, so that the public gets an affordable scheme that is fair to the UK taxpayer.
"Following a successful outcome being reached I am keen to launch a fresh public consultation to help gather views to improve the scheme and clarify the position around the safeguarded route."
Mayor Khan said: "Crossrail 2 is essential for the future prosperity of London and the south-east, so I'm pleased that the Transport Secretary and I have reached an agreement to take this vital project forward.
"We will continue to work together to ensure the project is value for money and provides the maximum benefits for jobs and growth in the region over the coming decades. I look forward to moving to the next stage of consultation."
(LM/MH)
