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London First response to Tube PPP Arbiter’s decision (10 Mar 2010)

Responding to the Arbiter’s decision on Tube PPP, Baroness Jo Valentine, Chief Executive at London First, said:

“The independent PPP Arbiter has concluded what is economic and efficient. Whether or not Transport for London should have budgeted for more, this is no doubt difficult medicine to swallow. But making the Tube fit for the 21st century, so that Londoners can get to work reliably and on time, is a high value prize.

“Boris should draw this public and acrimonious commercial negotiation to a close and deliver for London the vital modernisation of this critical infrastructure.”

ENDS

Notes to Editors

London First is a business membership organisation with a mission to make London the best city in the world in which to do business. London First undertakes this by mobilising the experience, expertise and enthusiasm of the private sector to develop practical solutions to the challenges facing London. London First also seeks to persuade central and London government to make the investments that London needs in its infrastructure

London First delivers its activities with the support of the capital’s major businesses in key sectors such as finance, professional services, property, ICT, creative industries, hospitality and retail. Membership also includes further education colleges and all of London’s universities. London First members represent over a quarter of London’s GDP.

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