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Comment in response to today’s announcement of Metronet contracts transfer to TfL

London First commented in response to today’s announcement of the completed transfer of Metronet contracts to Transport for London (TfL).

Baroness Jo Valentine, Chief Executive of London First, said:

“I am delighted that the uncertainty of Metronet’s administration is at an end. TfL can now use this opportunity to restructure Metronet’s contracts to get the best bang for taxpayers’ buck.  Longer term, we need absolute commitment to funding Tube improvements when the contracts come up for review in 2010. Today represents a ray of light for London’s commuters.”

– ENDS  –

Notes to editors:

London First is a business membership organisation whose mission is to make London the best city in the world in which to do business. London First undertakes this by mobilising the experience, expertise and enthusiasm of the private sector to develop practical solutions to the challenges facing London. London First also seeks to persuade central and London government to make the investments that London needs in its infrastructure

London First delivers its activities with the support of 300 of the capital’s major businesses in key sectors such as finance, professional services, property, ICT, creative industries, hospitality and retail. Membership also includes all of London’s higher education institutions as well as further education colleges and NHS hospital trusts. London First members represent 26% of London’s GDP.”

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