On Mon, 8 Jan 2018 13:54:39 +0000, Roland Perry
wrote:

In message , at 13:43:43 on
Mon, 8 Jan 2018, Recliner remarked:
What makes you think they have the power to borrow the money required?

Are you joking? Of course the Treasury can borrow more. It does so
all the time.

But can it borrow money to prop up TfL's current account? Remember - the
funds raised by the sale/leaseback are being used keep TfL going on a
day to day basis.

No, as stated in Paul's tweet that started this thread, they're to
help fund the new Piccadilly line fleet.

As an outright purchase (which I agree would be sending money round in
circles) or to pay a different set of leasing costs?

The old stock will be worth much less than the new, so it's presumably
to part-fund the purchase of the new stock.