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Transport: London Underground

Part of the debate – in the House of Lords at 3:14 pm on 7th May 2008.

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Photo of Lord Bassam of Brighton Lord Bassam of Brighton Government Whip, Government Whip 3:14 pm, 7th May 2008

Yes, my Lords, that is the case. The funding is in place. As I said earlier, the settlement is for the 10-year period. The £1.7 billion that we have had to guarantee with regard to Metronet was money that Metronet had borrowed from the banks, which the Government would have had to pay over time in any event. That should not affect the programme for funding the continued improvements of the Tube network or Crossrail. Those refurbishments are very much on time and on budget.