I informed the House last year on 29 October 2009 (Official Report, col. 28WS-29WS) that an Independent Advisory Panel would be set up to scrutinise the Transport for London (TfL) investment programme.

Yesterday, 24 March 2010, the Mayor announced the appointments of the first six members of the panel from a shortlist agreed with me. TfL has informed me that it expects the panel, now known as the Investment Programme Advisory Group (IPAG), to be up and running by May 2010. Further details can be found on the TfL website at http://www.tfl.gov.uk/corporate/media/newscentre/15095.aspx.

The IPAG will provide additional reassurance to the mayor, and to taxpayers and farepayers, that the TfL investment programme is being delivered economically and efficiently.