Publishing final directions and guidance on March 10, PPP Arbiter Chris Bolt said that Tube Lines' costs in Review Period 2 should be ￡4.46bn, an increase of ￡65m on last December's draft directions (RBI357 p1). But this remains well above the ￡3.68bn that LU says it can afford over the seven and half years of RP2 from July 1, and below Tube Lines' final submission of ￡5.84bn by a yet more substantial margin.rn'If I adopted London Underground's preferred interpretation of the contract, this would not remove the problems of affordabil-ity resulting from my final directions on costs', said Bolt. 'Any Tube Lines financing would require additional prudential borrowing approval which the Department for Transport has indicated that it is unlikely to give'.
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