London Underground

Transport, Local Government and the Regions written question – answered on 7th November 2001.

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Photo of Matthew Taylor Matthew Taylor Liberal Democrat Spokesperson (Treasury)

To ask the Secretary of State for Transport, Local Government and the Regions if he has asked external (a) consultants and (b) organisations to evaluate the PPP bids for the London Underground once the final bids have been prepared; and if he will make a statement.

Photo of Mr David Jamieson Mr David Jamieson Parliamentary Under-Secretary, Department for Transport, Local Government and the Regions

The Government's plans for a publicly run, privately built tube will deliver around £13 billion of investment to improve the underground's infrastructure over the next 15 years. The Secretary of State has made it clear that he will only be prepared for these plans to go ahead if he is content that they represent value for money.

London Underground is carrying out a thorough evaluation of all bids, assisted by its financial advisers PricewaterhouseCoopers and its engineering advisers Ove Arup. I understand that London Underground is also asking KPMG, its external auditor, to review the public sector comparators that London Underground has developed to guide its value for money evaluation.

In addition, Ernst & Young will be providing the Secretary of State with an independent opinion on London Underground's evaluation of the final PPP bids, focusing on the overall robustness of the value for money conclusions reached by London Underground and its advisers.

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