Local News - Tax Payers Money Going Down The Tubes

Tax Payers Money Going Down The Tubes

The collapse of private firm Metronet is going to cost tax payers £1.7 billion.
Due to mismanagement and over budget works, the firm Metronet went bust and had to abandon their current works on the underground. When Metronet declared bankruptcy, they left behind a hefty bill that TFL have to cover. The government is now giving TFL £39bn to finish off what Metronet where unable to do. This budget will also go towards the Crossrail scheme for the 2012 Olympics. The rest of the money will go towards the expansion of the current rail and bus services. Yet again the government has to look towards the taxpayers for large sums of money. This is also not the first time taxpayers have had to make up for government losses as seen with the Olympic budget.