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Dept for Transport Local Government and the Regions

Answer

Harry Cohen: To ask the Secretary of State for Transport, Local Government and the Regions how much (a) public capital investment and (b) private sector investment is proposed to be made in each of the next 15 years into the London Underground; what will be the return on capital for the private sector investors; who will pay it; and if he will make a statement. [4725] Mr. Jamieson: The plans for the modernisation of the Underground will deliver around £13 billion of investment to improve the underground's infrastructure over the next 15 years. It is estimated that some 20 per cent. of finance for these plans will be provided by the private sector, with the remainder coming from London Underground fares and Government grant. The rate of the return for the private sector will be determined by the outcome of London Underground's negotiations with bidders. The agreed rate of return will be achieved only if the private companies meet their obligations to provide track, trains, signals and stations with increased capacity, better reliability and higher quality.

Secondary information

Type

Written question

Reference

4725; 372 c199-200W

Session

2001-02

Subjects

Capital investment Finance Private sector Public sector London Underground Underground railways

Link

View this Written question on www.publications.parliament.uk