Thursday, July 19, 2007
Metronet: taypayer pays again
The taxpayer paid £500m for Metronet and Tubelines respective PPP contracts to be set up. Now Metronet are unable to manage their finances properly, the taxpayers pay again. It appears to me that this stems from Metronet's greed in attempting to award all contracts to their constituent companies thereby keeping all money within the cycle. However they couldn't even make this work when they were running it all themselves. So we'll probably have Tubelines running the whole PPP.