18 June 2004
It is too early to tell whether the complicated public- private partnership contracts to maintain the London Underground are a good deal for the taxpayer, the National Audit Office has concluded.
In two reports published this week the NAO assessed the value of the 30-year contracts, which transferred maintenance and upkeep of the network to three consortiums.
Auditor general Sir John Bourn said: 'In the face of the inevitable uncertainty about what the next 30 years will bring, only time will tell whether prospects [for improvement] are fully realised and, therefore whether the eventual price that the taxpayer pays is worth it.'
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