The Thick of It

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Wednesday, May 28, 2008

TfL take over Metronet

As the new Mayor takes over the failed Metronet PPP contract for the tube upgrade I do wonder what happened to the private sector taking on the "risk." If only all that extra money wasted on lawyers had been spent directly on upgrades...

Indeed, the Parliamentary Transport Select Committee reported in 2002 that "it is however apparent that the position on risk has moved dramatically in favour of the private sector companies" - this is obviously what happened.

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