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Metronet: Insolvency

Volume 465: debated on Wednesday 24 October 2007

To ask the Chancellor of the Exchequer whether the Treasury has authorised additional borrowings by Transport for London to help them meet liabilities relating to the administration of Metronet. (160245)

The Department for Transport has been in discussion with Transport for London as part of the process of the Comprehensive Spending Review about their future funding needs, including any liabilities they may face as a result of Metronet’s entry into administration. These discussions are ongoing.