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Public-Private Partnership
Disasters |
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London: the London Underground
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The London
Underground upgrade
is another P3 disaster from
around the world - a disaster much like the failures (SR 91 and SR
125) that have cost California taxpayers hundreds of millions more
than they should have. Because they are so profitable, it is not a
surprise that multi-national companies and Wall Street investment
houses want to bring more such P3s to the "lucrative" California
market. |
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The Public Interest Alternative
__________ |
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Require competitive bidding.
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Require public oversight, design
and inspection to ensure public safety and cost controls.
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Utilize tax exempt public
financing which is as much as 35 percent lower than private
borrowing.
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Tolls should be reinvested in our
transportation and other public infrastructure.
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Prohibit non-compete clauses and
cash payments that prevent improvements to competing public
roads, increasing congestion.
__________
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1 |
"Long
Term Funding for Transport for London," 2008 Written
statement to Parliament by the Secretary of State for
Transport, Ruth Kelly |
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2 |
"The
London Underground and the Public-Private Partnership
Agreements," 2008 House of Commons Transportation Committee
Report |
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