This section examines the process for determining the particular choice of PPP and the implications of the choice. It finds that four basic structures, involving the private sector, were analysed extensively before arriving at an outcome involving significant complexity. |
1.1 In May 1997, the Government started to examine the options for creating a PPP for the Tube. It excluded privatisation but sought a structure that would involve the private sector. Governing its review were three overarching policy objectives:
■ Obtaining private sector investment and expertise to modernise the Tube;
■ Guaranteeing value for money for taxpayers and passengers; and
■ Safeguarding the public interest, which included the safe operation of the Tube.
In addition to these, the Department had its own objectives: the timely elimination of deferred maintenance to the Tube and the inclusion of the PPP in an integrated transport policy for London.