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.
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
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resource61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View articleWhen employees publish opinion and statements on social and other online mediums, they may be leaving themselves open to interpretation of codes of et...
View article