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Railhub Archive
2000-12-13 GLA-001
Greater London Authority0
Commissioner tables alternative to 'fatally flawed' PPP
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 London Transport
Transport for London
public-private partnerships
*PPP
 
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   Commissioner tables alternative to 'fatally flawed' PPP
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type Press release
Robert Kiley, the new Commissioner of Transport for London, today announced his proposals for the modernisation of London Underground at a meeting chaired by Ken Livingstone, Mayor of London.
The meeting brought together key stakeholders in the capital including MPs, London boroughs, trade unions and the business community.
Mr Kiley said: 'My plan calls for £10 billion in investment over 15 years. That consists of roughly £6 billion in surplus operating revenues and government grant, £2 billion in partnerships with the private sector and £2 billion in revenue securitisation obligations, which serve the same function as bonds.
'This plan can be accomplished without exposing the public to fare increases and without any form of financial guarantees from the government.
'Transport for London fully expects that at least 90 per cent of the investment programme will be carried out by the private sector under this plan.'
In response to the Mayor's request for his assessment of London Underground's present Public Private Partnership proposal, Mr Kiley said:
'On the basis of the information made available to me, I have concluded that the basic structure of London Underground's PPP as presently conceived is fatally flawed and will not promote an improvement in the service offered to Londoners.'
Mr Livingstone commented: 'Bob Kiley is one of the world's foremost experts on underground rail systems. He has concluded that the PPP is unsafe and will not work. He has developed a viable alternative plan for partnership between public and private sectors which retains the unified management of the system, the absence of which has produced chaos on the national rail network.
'I believe we have a clear basis for Mr Kiley and the government to work together to produce an outcome which fully involves the private sector but retains unified management.'
Railhub Archive ::: 2000-12-13 GLA-001
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