LTUC gives qualified welcome to PPP on Tube10 January 2003
The London Transport Users Committee has given a qualified welcome to the first PPP agreement which aims to provide a guaranteed income flow to the modernise part of the London Underground.
Rufus Barnes, Director of the Committee said, ‘The Underground is in urgent need of considerable amounts of money to address decades of under-funding. Arguments about the merits or otherwise of PPP have gone on long enough. PPP is the only funding option the Government is willing to consider it is important now to get on with bringing the Underground up to the 21st century standards appropriate for a world-class capital city such as London.'
Rufus Barnes continued, ‘The Mayor of London has argued that PPP will cost London considerably more than the Government has stated. LTUC is not in a position to say whether the Government or the Mayor is right on this, however, since PPP has been foisted on London by the Government it is only right to expect the Government to underwrite any significant unexpected costs that may stem from the project.'
Rufus Barnes concluded, ‘Tube Lines has committed to very significant investment to improve the Jubilee, Northern and Piccadilly lines. There will be some disruption to services to enable upgrade work to be undertaken. This is inevitable when modernising an existing system - there is no alternative if we are to achieve the decently modern metro London needs and deserves.'