National Audit Office highlights impact of upgrades not being completed to original timescales
Metronet, the private company responsible for the maintenance and upgrade of sections of London Underground, could be responsible for the loss of up to £410m of taxpayers' money, according to the National Audit Office.
In a report, the NAO estimated a loss to the taxpayer of between £170m and £410m, owing to upgrades. It also highlighting the impact on passengers of all the improvements that were promised not being completed in the original timescales.
The auditor general said: “The Metronet PPP contracts to upgrade the Tube left the Department for Transport without effective means of protecting the taxpayer. Metronet's failure led to a direct loss to the taxpayer of between £170m and £410m. The Department for Transport's work with the mayor of London, Transport for London and London Underground on a long term solution will need to improve governance and risk management in the new arrangements they are intending to put in place to protect the taxpayer.”