PracticePeople In PracticeTube deal hangs on E&Y report

Tube deal hangs on E&Y report

The government could ditch its controversial part-privatisation of the Tube if an influential report shows the deal would not give taxpayers value-for-money.

According to weekend reports, the Department of Transport, Local Government and the Regions is planning to use a report by Ernst & Young into the public private partnership for London Underground to advocate a change in policy.

The decision on the future of the Tube, which is expected within weeks, would be seen as a victory for Ken Livingstone, Mayor of London, who has vehemently opposed the plans.

It is understood that additional funding for the ailing underground system could come in the form of government bonds, a solution proposed by Bob Kiley, Livingstone’s transport chief.

Transport Secretary Stephen Byers has been under pressure since calling in administrators at Railtrack to ensure the Tube deal is backed by the City as well as providing value-for-money for commuters.

Links

Transport trouble: Mayor Ken Livingstone will scrutinise E&Y’s new value-for-money report

Byers attacked over tube letter

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