F The Joint Steering Committee has considered a range of options for the line upgrades, rolling stock, station maintenance and renewals work that were expected to be undertaken by Metronet. While the permanent solution is under consideration by the Secretary of State and the Mayor of London, TfL is determining Metronet's budgets annually.
A permanent solution should be based on a whole life costing of infrastructure renewal and avoid a return to short-term budgeting based on annual grants from DfT. The long-term funding agreement between DfT and TfL provides the necessary framework. TfL seeks to adopt the principles of a whole life approach to asset management in its business plan. A TfL business plan published in November 2008 for the period to 2018 is under consideration and needs to be taken to a conclusion if infrastructure renewal is to reflect strategic priorities rather than 'patch and mend'.