Lynne Featherstone

Interview for London Tonight on the obscene profits made by Tubelines in their first year of running the Northern, Jubilee and Piccadilly lines. To add insult to injury, their Chief Executive, Terry Morgan has received GBP100,000 bonus.

Now the profit was expected. That’s the consequence of Labour’s tube privatisation scheme, with GBP41million profit taken out of the tube rather than reinvested in the infrastructure.

But in this first year, Tubelines failed to reach 27 of their 39 targets. Of course, the Chief Exec’s bonus was for delivering the profits to shareholders rather than delivering an improved service to London’s poor tube users.

Strangely enough, Mayor Livingstone – erstwhile opponent of the PPP – made no comment. Well – now he’s a Labour Mayor…!