Over £400m of improvements to the London Underground are in jeopardy after the Tube PPP Arbiter ruled that Transport for London should fund the work through additional borrowing.
Arbiter Chris Bolt has concluded that the economic and efficient price for maintaining and upgrading the Jubilee, Northern and Piccadilly lines over the next seven-and-a-half-year period of the PPP (July 2010 to 2017) is £4.46bn.
The figure is £65m more than his draft decision published last December...
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