 COUNCIL leaders and executives will meet once again today to debate the immediate future of Merseytram. A 2pm meeting at Liverpool's Millennium House should give a much clearer indication of whether the flagship project will go ahead or not. Time is now running out with even the revised timetable anticipating the signing of contracts by the end of this month and work starting properly in early October. It is also costing up to £50,000 a week to keep together the team designing and planning the tramway. The meeting will be presented with an updated report by consultants Investec, who were asked to look at a number of key concerns still held by the local authorities. The Daily Post understands the Investec report is relatively positive in relation to the key issue of financial risk associated with the 11-mile route from Liverpool to Kirkby. Merseytravel and its private partners believe they have cut as much of the risk out as possible, though there can be no absolute guarantees with any major capital project. A source said: "The latest Investec report is a 'glass half full' type document. It will be up to each council to decide if that is enough for them." A crucial aspect of the meeting will be the question of whether tunnel tolls will be used to help fill the funding gap in the project. That gap has existed since the government limited its funding to £170m back in June, well short of the £204m Merseytravel had been expecting. The Mersey Tunnels Act, passed last year, effectively gives Merseytravel the right to use excess money from the tunnels for other public transport projects - which could of course include the tram. But politically it is very difficult for Wirral's representatives to accept any deal which directly feeds funds from the tunnels into the trams. Indeed Wirral Council leader Steve Foulkes has already effectively ruled out any such arrangement. | 
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