Full text of letter

2001-10-26 Your tube: publicly run, privately built (Department of Transport, Local Government and the Regions)

2001-09-19 Preferred bidder in public private partnership for sub-surface lines (London Regional Transport)

2001-09-04 Byers - proposed tube contract changes will strengthen public sector role and put safety first (Department of Transport, Local Government and the Regions)

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date 25 March 2002
source Transport for London
type Press release

Introduction

The true desirability of the proposed so-called "Public Private Partnership" for the London Underground (the "PPP") in the view of London's transport experts -- those who understand how public transport in London works -- was revealed in 1997, when PPP ranked very near the bottom of some six alternatives considered by LUL for rejuvenating the dilapidated Underground.

However, not withstanding this informed view, the alternative view of the Government's financial advisors prevailed. Their view prevailed because it promised to Parliament and the public massive savings with little corresponding risk for LUL. Their view also prevailed because the Government's commitment of continuing grant support for LUL was understood by LUL to premised on the Tube PPP going forward. Lastly, the view of financial advisors, rather than transport experts, prevailed because control of LT's future was placed in individuals who ideologically favoured privatisation ...


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Railhub Archive ::: 2002-03-25 TfL-001