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Posts Tagged ‘ppp’

We love Admiral Scrumptious

March 12, 2010 6 comments

Lord Adonis‘s retort to Boris on the Tube Lines PPP arbitration is quite superb:

Under devolution, it is for the Mayor and TfL to deliver the Tube upgrades within their generous budget – not for me to bail them out if they fail to do so.

If Boris wants me to take charge of TfL then he should say, and I would start with more sensible priorities like not cancelling the Western congestion charge zone and not replacing a modern bus fleet needlessly – both of which are costing Londoners hundreds of millions of pounds which could be spent on upgrading the Tube.

At some point, I’m going to post on why Tube PPP was a Good Thing (at least, given 2000s capital market conditions – it’s possible that credit availability over the next 10 years will mean that PPP/PFI is no longer as good an idea as it was during the Blair years). It boils down to “the government is committed to paying the money whether it wants to or not, rather than buggering about with the budget year-on-year as happened from 1945-1997″.

(yes, this kind of long-term commitment sacrifices democratic decisionmaking in favour of efficiency. As regular readers will hopefully have picked up, this blog has no moral attachment to the concept of democracy, or “rule by a mob of ignorant idiots”; the only reason I’m not actively opposed to it is the empirical one that other means of governance generally seem to turn out even worse.)