The decision to fund the Crossrail contract through a PFI will no doubt prove controversial, especially following Siemens’ appointment to manufacture carriages for the Thameslink project.

Will this move produce the best overall outcome for Britain? TfL will not be able to increase its level of borrowing, meaning that less debt will be incurred.

But it makes Siemens the more likely winner, again, leaving the UK’s rolling stock manufacturing industry in serious doubt.

If Siemens presents the best value for money for this contract, that is a benefit in the short-term. Perhaps this reinforces Siemens’ strength for the position, and confirms the validity of the Thameslink win.

But the longer-term effects on UK employment must also be considered, especially considering the amount of anger after the Thameslink contract was awarded, and the number of jobs lost at Bombardier.

Funding via a PFI may place financial savings ahead of the consequences for our workforce, leading many to question whether the Transport Secretary is repeating past mistakes?