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2002-05-08 DTR-001
Department of Transport, Local Government and the Regions

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The Tube is on track thanks to £ billions in modernisation


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London Transport
Transport for London
public-private partnerships
*PPP



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Department of Transport, Local Government and the Regions

The Tube is on track thanks to £ billions in modernisation
_______________________________________________________________


date
8 May 2002 00:00
source Department of Transport, Local Government and the Regions
type Press release



APPROVAL of a multibillion pound deal securing the modernisation of London's Tube was welcomed by Secretary of State for Transport Stephen Byers today.
The decision to agree to the signing of contracts between London Underground and the private sector, taken by the Board of London Transport today, followed an extensive consultation process with London's Mayor Ken Livingstone and Transport Commissioner Bob Kiley.

London Underground has made a number of improvements to the contracts in response to the views expressed during the consultation process, including the consultation since February 7. These changes have helped strengthen the contracts to ensure they deliver the best deal for the public.

In responding to the Board's announcement, Stephen Byers said: "This decision must now lead to badly needed and long awaited improvements to the network's track, trains and stations and more comfortable, faster and reliable journeys for passengers.

"This deal will also see guaranteed and focused investment worth £16 billion put into the Underground over the next 15 years and has been shown to offer good value for money when judged against alternative proposals.

"The Health and Safety Executive has still to reach a final judgement on London Underground's revised Railway Safety Case. The position therefore remains that the Tube modernisation plans will only proceed if the safety arrangements are accepted by the independent safety regulator.

"The Government has also confirmed its biggest ever commitment to sustained funding, averaging £1 billion in annual grant on offer to Transport for London, over the next eight years.

"I am satisfied that the PPP arrangements are not a privatisation. London Underground has and will continue to be a service for and owned by the people. This is reflected in the fact that London Underground's infrastructure assets will not move off its balance sheet.

"Under the modernisation plans fares will continue to be the responsibility of the Mayor of London. The modernisation does not require fares to rise faster than inflation."

Notes to Editors:

The announcement today by London Transport, the parent company of London Underground, was followed by signature of the contracts by representatives of London Underground and the preferred bidding consortia Metronet and Tube Lines.

These agreements provide that the modernisation plans will come into effect when the remaining contractual 'conditions precedent' are satisfied - including those relating to competition clearances under European law and acceptance by the HSE of London Underground's revised railways safety case.

To see an updated version of London Underground's Final Assessment Report, incorporating its response to its statutory consultation with the Mayor of London and the Commissioner of Transport for London, visit www.thetube.com .

For more details about the bidding consortia visit their websites www.metronetuk.com & www.tubelines.com .

And to see the Government's response to the Transport Local Government and Regional Affairs Committee reports on London Underground and fact sheets explaining the impact of today's decision, contact the DTLR press office on 020 7944 3232 or visit our website at www.dtlr.gov.uk .

Press Enquiries: 020 7944 3108
Out of Hours: 020 7944 5925
E-mail: press@dtlr.gov.uk
Public Enquiries: 020 7944 3000
DTLR website: http://www.dtlr.gov.uk


Railhub Archive ::: 2002-05-08 DTR-001





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