§ The Parliamentary Under-Secretary of State for Transport(Mr. Tony McNulty)London Transport's (LT) expenditure on external consultancy in relation to the Public Private Partnership (PPP) for the modernisation of London Underground (LU) has been regularly reported to the House at six-monthly intervals since 13 January 1999.
LT's liabilities transferred to Transport for London (TfL) on 15 July 2003, so some residual final costs are being met by London Underground (LU) in TfL's ownership. The total consultancy costs concerned, from 20 March 1998 (the date of the Government's announcement of the PPP) up to the end of August 2003, is £103.16 million. The potential final cost is £103.5 million. Once all related expenditure has been paid I will report the final costs to the House.