The Department and the Treasury considered that transferring some construction risk was expensive but justified the decision on the basis of the protection offered to the taxpayer

3.12  The construction of Section 2 is a complex enterprise. The works include: 20 kilometres of twin tunnels under east London and the Thames; and the redevelopment of the existing St Pancras station, with only limited closure of this major London terminus permitted. The associated construction risks are considerable. If these risks were not transferred to others, then the costs incurred in dealing with those that materialised would have a negative impact on LCR's cash flow and would increase the call on the access charge loan facility.