I am grateful to my hon. Friend for pointing out that we have done better than our predecessors on the level of core investment in London Underground, which is now 50 per cent. more than in the 1980s and 100 per cent. more than in the 1970s. None the less, we want to do even better. Against that background, I introduced proposals for the privatisation of London Underground, with the key element of recycling the proceeds back into the underground to remove the investment backlog within five years of privatisation.