LU £2 Billion Budget Black Hole

[Deleted]

It looks as if a lot of proposed Underground improvements may not now go ahead following the unearthing of a £2 Billion pound budget shortfull

[john]

Saw this on the news earlier in the week. In fact, it sounds like that is was this shortfall that's brought the increased fares

[Deleted]

Sept 11, 2008 16:32:22 GMT john said:

Saw this on the news earlier in the week. In fact, it sounds like that this was this shortfall that's brought the increased fares

£2 BILLION POUNDS FROM A FARE INCREASE?! Dream on!

The fare increase are plugging a very small (comparable to the monster of PPP) amount of money.

[john]

Oh i know, i was just quoting what i could remember from the bits i heard on BBC London news ;D Bearing in mind i was drinking plenty of Vodka last night, it would have affected my memory!

[Deleted]

This is a chance for Tube Lines and LUL to re-scope works.
Both LUL and Tube Lines work out how much they think it will cost and cme up with a price. If they can't agree then the Office Of The PPP Arbiter comes in. He has already said that LUL must pay at least an extra £1bn.

A number of project costs have increased since Metronet went into Administration as contracts were cancelled or re-tendered.

What with their not being the money to do the Metronet upgrade and the Directors jumping the sinking ship at Tube Lines, PPP won't last much longer - then what!