Price Waterhouse And London Underground Ppp

EDM number 1380 in 2003-04, proposed by Harry Cohen on 22/06/2004.

That this House notes the disclosure in the National Audit Office's recently published report on the London Underground PPP that Price Waterhouse, the financial adviser for the setting-up of the PPP, in October 1997 estimated the cost of reorganising London Underground and procuring the PPP at ú110 million, but that the actual cost just a couple of years later was ú180 million - ú170 million at 1999 values; and considers that Price Waterhouse who were paid ú21.4 million for their advice was grossly incompetent in its financial estimate.

This motion has been signed by a total of 24 MPs.