Cable tackles Brown over Tube financial collapse

12.00.00am BST (GMT +0100) Wed 25th Jul 2007

Lib Dem MP for Twickenham, Vince Cable, is tackling the Prime Minister Gordon Brown over his personal responsibility in the Metronet fiasco

Vincent Cable, Lib Dem MP for Twickenham, tackled the Prime Minister, Gordon Brown, last week in Prime Minister's Questions over his personal responsibility for the Metronet financial fiasco. The London Underground Private Partnership has led to the collapse of the main company involved, Metronet (a consortium which includes Thames Water). The company has gone into administration leaving massive loans, 95% are underwritten by London Transport, and great uncertainty over the programme of modernisation and investment.

Vincent Cable said:

"A lot of ...residents depend on the underground to get to work and around London. A lot of others will be concerned that as tax payers they may have to pick up the tab for financial failure.

"Gordon Brown has direct personal responsibility for the mess. Instead of allowing London Transport to manage the project, Gordon Brown insisted on personally overseeing an enormously expensive partnership with commercial interests which has failed and has left all the risks with the tax payer."