Annex (continued)
2. PwC have considered whether the same
performance could be achieved in the public sector with lower
spending on infrastructure if the Underground had access to funding
in the bond market. This could make it easier to manage the investment
programme and get efficiencies in procurement that would reduce
unit costs. Based on that work, it seems reasonable to assume
that, if such funding was available, it could reduce the cost
of the programme on average by some 5 per cent, giving the adjusted
spend shown in Table 2 of £15.5 billion.
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