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Author: Great Britain. Parliament. House of Commons. Environment, Transport, and Regional Affairs Committee
Publisher:
ISBN: 9780102487008
Category : Public-private sector cooperation
Languages : en
Pages : 113
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Book Description
A further inquiry into the public-private partnership (PPP) for the modernisation of London Underground. The inquiry considered the level of funding required, the development of PPPs for the Underground, and what alternative proposals there were, to ensure that the best option is chosen and put in place as quickly as possible. Evidence was taken from the London mayoral candidates as well as from the Deputy Prime Minister and academics.
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Author: Great Britain. Parliament. House of Commons. Environment, Transport, and Regional Affairs Committee
Publisher:
ISBN: 9780102487008
Category : Public-private sector cooperation
Languages : en
Pages : 113
Get Book Here
Book Description
A further inquiry into the public-private partnership (PPP) for the modernisation of London Underground. The inquiry considered the level of funding required, the development of PPPs for the Underground, and what alternative proposals there were, to ensure that the best option is chosen and put in place as quickly as possible. Evidence was taken from the London mayoral candidates as well as from the Deputy Prime Minister and academics.
Author: Great Britain: Parliament: House of Commons: Transport Committee
Publisher: The Stationery Office
ISBN: 9780215038319
Category : Business & Economics
Languages : en
Pages : 134
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Book Description
This report from the Transport Committee, examines London Underground and the Public-Private Partnership Agreements. The Government originally announced proposals for modernising the London Underground network system via Public-Private Partnership (PPP) agreements in 1998. Three contracts were drawn up with: (i) Tube Lines for the maintenance and renewal of the Jubilee, Piccadilly and Northern Lines; (ii) with Metronet Rail BVC for the maintenance and renewal of the Bakerloo, Central, Victoria & Waterloo & City Lines; (iii) with Metronet Rail SSL, responsible for the maintenance and renewal of the "sub-surface lines": the Circle, District, Hammersmith & City, Metropolitan & East London Lines. These PPP Agreements, 30 years in duration, were arrangements to maintain, renew and upgrade parts of London Underground by private sector infrastructure companies (Infracos), whilst London Underground is responsible for services to customers. The PPP Agreements also set out a performance-related incentive and penalty scheme to remunerate the Infracos for the improvements they make to the network. In May 2007, Metronet admitted an overspend of £1 billion and was refused access to loan facilities by the banks. It then made a reference to the PPP Arbiter, which in turn triggered an Extraordinary Review (which occurs when extra costs are incurred above the level allowed for the bid). Metronet put in a bid for £551m but the PPP Arbiter provisionally concluded that a sum of £121m was appropriate. Metronet subsequently went into administration on 18 July 2007. The report sets out a number of conclusions and recommendations, including: contracts that were supposed to deliver 35 station upgrades, in fact delivered only 14, 40% of the requirement; stations that were supposed to cost Metronet SSL £2m, cost £7.5m, with only 65% of schedule track renewal accomplished; the Committee criticises the consequences of the imposition of PPP on Transport for London, as a "lamentable state of affairs", with the future of most of London Underground's upgrade and maintenance work in doubt; the Committee states, that the Government should remember the failure of Metronet before it considers entering similar arrangements; that the Government should publish a candid analysis of the events preceding Metronet's collapse and its consequences; the Committee believe that the PPP model was flawed and probably inferior to traditional public-sector management; that the Government needs to prioritise transparency and clarity to taxpayers and ensure that any future contracts result in clear accountability.
Author: Declan Gaffney
Publisher:
ISBN:
Category : Public investments
Languages : en
Pages : 32
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Book Description
Author: Great Britain. Parliament. House of Commons. Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215023490
Category : Public-private sector cooperation
Languages : en
Pages : 68
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Book Description
In March 2003, the Government signed three 30-year public private partnership (PPP) deals worth an estimated £15.7 billion for the maintenance and renewal of London Underground trains and stations, track and signalling, after a five-year procurement process which cost £455 million. Under the PPPs, London Underground retains responsibility for operations and safety, whilst three private sector infrastructure companies (infracos) maintain and renew the infrastructure. There is a built-in periodic review mechanism, untried in any other PPP arrangement, which enables the parties to respecify requirements and make changes to prices. Ownership of London Underground was transferred to Transport for London in July 2003, which reports to the Mayor of London, although the Department for Transport still retains an interest. Following on from two NAO reports (HCP 644, session 2003-04, ISBN 0102928339 and HCP 645, session 2003-04, ISBN 0102928320) published in June 2004, the Committee's report examines the rationale for the PPPs, the contract price and other costs, and the contract management arrangements.
Author: Great Britain: Parliament: House of Commons: Transport Committee
Publisher: The Stationery Office
ISBN: 9780215545305
Category : Political Science
Languages : en
Pages : 90
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Book Description
Update on the London Underground and the public-private (PPP) partnership Agreements : Seventh report of session 2009-10, report, together with formal minutes, oral and written Evidence
Author:
Publisher:
ISBN: 9780101487726
Category : Public-private sector cooperation
Languages : en
Pages : 6
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Book Description
This memorandum provides the Government's response to the Environment, Transport and Regional Affairs Committee's report into the funding of London Underground. The Government agrees with the Committee's position that any restructuring of the Underground should not blur the lines of responsibility for safety standards. The Government also responds to a number of the Committee's questions and concerns about the public-private partnership (PPP) funding alternative for the Underground, and restates its belief that the PPP offers best value for the system's future.
Author: Antonio Baillie
Publisher:
ISBN:
Category :
Languages : en
Pages : 242
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Book Description
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: Oliver Green
Publisher: Frances Lincoln Children's Books
ISBN: 0711289050
Category : Architecture
Languages : en
Pages : 290
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Book Description
Published in conjunction with TFL, this is a comprehensive guide to the London Underground, combining a historical overview, illustrations and newly commissioned photography.
Author: Michelle Bush
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The contractual structure and competitive process of the PPP give strong incentives for the efficient delivery of services by private sector. The apparent difference in the cost of borrowing of the public and private sectors is illusory as the public sector cost is not properly accounting for the risks left with the taxpayer. There are strong theoretical and empirical reasons to believe that under the PPP the private sector will be more efficient than any public sector alternative. On similar deals these efficiencies historically have been in the order of 20 & above the public sector which for the PPP, over 15 years, equates to a saving of #3.3bn, or over #200 per annum.
Author: Krystal Grise
Publisher:
ISBN:
Category :
Languages : en
Pages : 242
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Book Description
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!
