"METRONET PAY-OFFS ARE OUTRAGEOUS REWARD FOR FAILURE" - POPE

10.30.00am BST (GMT +0100) Thu 25th Oct 2007

Commenting on the announcement that the top 5 bosses of failed tube maintenance company Metronet have been handed severance payments in excess of £1m, London Assembly Liberal Democrat Transport spokesman, Geoff Pope, said:

"This is an absolute outrage. When passengers will be picking up the tab for Metronet's incompetence through increased fares and when many vital transport improvements are likely to be put on hold, Metronet's fat cats pay off is sending the message that if you fail with the public sector, you still get handsomely rewarded. This is a very bad sign when contracts are being renegotiated.

"Where has this money come from given Metronet is still insolvent and no decision has yet been reached about the remaining value of the company?

"I will be writing to the arbiter to demand bonuses be paid back to TfL for reinvestment in public transport." ENDS