14 We estimate that the overall direct loss to the taxpayer arising from Metronet's administration is between £170 million and £410 million, in 2007 prices. DfT paid £1.7 billion of the £1.747 billion cost of repaying 95 per cent of Metronet's debt obligations through grant funding to TfL. This £1.7 billion payment was an unanticipated upfront cost to the taxpayer. It is not all a loss, however, because the public sector has received the benefit of Metronet's capital investment, despite some of the capital spending being inefficient. Our estimate of the loss to the taxpayer is based on the difference between the public sector costs incurred and the value of the work done. The detailed calculations behind our estimate are set out in Part 3 of this report.