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London Underground plans to integrate Metronet contract into TfL welcomed

Influential business organisation London First today welcomed the publication of a London Underground Board report detailing steps taken to integrate the former Metronet contracts from administration into Transport for London.

London First Chief Executive Baroness Jo Valentine said:

“Managing Director Richard Parry deserves considerable credit for the steps LU has taken to manage Metronet’s transition from administration. And for putting this report into the public domain; we welcome this move towards transparency. There is more to do. The trains on the former Metronet lines are clearly working more efficiently – but only an independent assessment will tell us if the billions of tax and fare payers’ pounds are being invested effectively in modernising the Tube.

“London’s priority is to make sure that every pound invested is where customers and taxpayers will get best value. Bang for buck is never a luxury, least of all now. The independent PPP Arbiter, Chris Bolt, should be allowed to judge that money is being spent as effectively on Metronet as it is on Tube Lines.”

ENDS

Notes to Editors
A paper: Metronet Integration and Budget Alignment will be considered by the Transport for London Board meeting tomorrow (Wednesday 24 June).

London First is a business membership organisation with a mission 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 the capital’s major businesses in key sectors such as finance, professional services, property, ICT, creative industries, hospitality and retail. Membership also includes further education colleges and all of London’s universities. London First members represent over a quarter of London’s GDP.

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