IDEAS home Printed from https://ideas.repec.org/a/taf/pubmmg/v22y2002i2p53-60.html
   My bibliography  Save this article

New Developments: A Financial Appraisal of the London Underground Public-Private Partnership

Author

Listed:
  • Jean Shaoul

Abstract

This article examines whether the Government’s policy of Public-Private Partnerships (PPP) in the context of London Underground is likely to satisfy the financial criteria for approving a partnership proposal: value for money (VFM), including risk transfer, and affordability. After analysing the implications of the Underground’s cost structure for the PPP, the author looks at the methodology for appraising the PPP. She concludes that the methodology cannot be relied upon to provide a sound decision-making tool for London Underground. She demonstrates that the London Underground project is not affordable, and questions the appropriateness of the partnership policy in the context of vital capital-intensive industries.

Suggested Citation

  • Jean Shaoul, 2002. "New Developments: A Financial Appraisal of the London Underground Public-Private Partnership," Public Money & Management, Taylor & Francis Journals, vol. 22(2), pages 53-60, April.
    • Handle: RePEc:taf:pubmmg:v:22:y:2002:i:2:p:53-60
    DOI: 10.1111/1467-9302.00308
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1111/1467-9302.00308
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1111/1467-9302.00308?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Khadaroo, Iqbal, 2008. "The actual evaluation of school PFI bids for value for money in the UK public sector," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 19(8), pages 1321-1345.
    2. Jean Shaoul, 2010. "A Review of Transport Public–Private Partnerships in the UK," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 24, Edward Elgar Publishing.
    3. Sounman Hong, 2016. "When does a public–private partnership (PPP) lead to inefficient cost management? Evidence from South Korea’s urban rail system," Public Money & Management, Taylor & Francis Journals, vol. 36(6), pages 447-454, September.
    4. Weixia Lyu & Yanan Zheng & Camila Fonseca & Jerry Zhirong Zhao, 2020. "Public-Private Partnership Transformation and Worker Satisfaction: A Case Study of Sanitation Workers in H-City, China," Sustainability, MDPI, vol. 12(13), pages 1-13, July.
    5. Zhao, Jianfeng & Greenwood, David & Thurairajah, Niraj & Liu, Henry J. & Haigh, Richard, 2022. "Value for money in transport infrastructure investment: An enhanced model for better procurement decisions," Transport Policy, Elsevier, vol. 118(C), pages 68-78.
    6. Margaret Cuthbert & Jim Cuthbert, 2010. "The Royal Infirmary of Edinburgh: a case study on the workings of the Private Finance Initiative," Public Money & Management, Taylor & Francis Journals, vol. 30(6), pages 371-378, November.
    7. McCartney, S. & Stittle, J., 2017. "‘A Very Costly Industry’: The cost of Britain’s privatised railway," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 49(C), pages 1-17.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:pubmmg:v:22:y:2002:i:2:p:53-60. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RPMM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.