§ 32. Mr. McNultyWhat steps he proposes to improve transport provision in London. [35476]
§ Ms Glenda JacksonWe have recently announced a number of proposals that will improve transport in London, including a public-private partnership to address London Underground's investment needs; an extra £365 million for London Transport over the next two years; the establishment of new passenger transport services on the Thames; the introduction of revised traffic management and parking guidance; and, through the new Greater London authority, better planning and integration of transport services under Transport for London.
§ Mr. McNultyThose announcements are much welcomed by the people of London. For all their hot air and blather, all that the Tories left Londoners was a £1.2 million backlog in tube investment. Does the Minister agree that the present Government have done more in the last two weeks than the other lot did in the last 18 years?
§ Ms JacksonMy hon. Friend would not expect me to disagree with that factually accurate statement.
§ Sir Sydney ChapmanThe Deputy Prime Minister recently announced the privatisation of London Underground infrastructure. Bearing in mind the fact that the operation is to remain in the public sector, how can the Minister be sure to attract the necessary additional private capital? Will London Underground borrowing remain within the Treasury rules on the public sector borrowing requirement?
§ Ms JacksonMy right hon. Friend the Deputy Prime Minister did not announce a privatisation. He announced a third and middle way: it is neither overt nationalisation nor overt privatisation. I understand that many people who are very interested in being part of a public-private partnership are already queueing up outside his door.