In 1998, the recently elected Labour government under Tony Blair initiated a public-private partnership (PPP) to modernise the London tube system, whose oldest parts were over 100 years old. While the underground's assets stayed in public hands, two private companies - Metronet and Tube Lines - were contracted to attract investment and carry out the work. In this Underground Book, you will discover: - The book's conclusions include the startling facts that the PPP: - Cost at least £400m million simply to set up - Involved 135 volumes and 28,000 pages of contracts - Failed to gaurantee the Tube the stable, long-term funding that was originally its principal attraction - Passed the value for money test obligatory for all PFI schemes only with the help of transparent financial sophistries - Depended for its operation on contracts of Byzantine complexity - Split up a unified system with consequent increases in management costs and greater risks to safety - Transferred little financial risk to the private sector Get your copy today!
Author: Latoyia McElfresh
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