The waiting for London's beleaguered commuters will come to an end next week when a decision on the contracts for London Underground will be announced.

Transport secretary Stephen Byers told the Commons on Tuesday that he will announce details of the contracts for private companies to run parts of the Tube on Thursday next week.

Answering a question from Labour backbencher Harry Cohen, Byers signalled he has bowed to pressure from Labour backbenchers by bringing his decision forward from April in order to beat the deadline of the local government elections in May.

He is to give details of whether the controversial PPP contracts represent value for money, with the publication of an Ernst and Young review of the plans. It has already been rumoured that up to three Tube lines do not meet this requirement. Ken Livingstone - and his transport commissioner Bob Kiley - are set to be awarded any lines that aren't included in the contracts with private consortia.

Livingstone and Transport for London will be given three weeks consultation with ministers to go over the likely objections and concerns they will have.

"The modernising of the Tube will bring the £13 billion of investment over 15 years. there's been chronic under-investment for years. We must ensure we get value for money. We've got to get value for money for every pound we spend," Byers said. "What I want to see is a good deal for Londoners."

The Conservative transport spokesman Eric Pickles questioned how much of a compromise Byers would be announcing.

"Is he going to produce plan B?" he asked. Making fun of the news that former BBC chief Lord Birt had been ordered by Downing Street to carry out some "blue sky thinking" on transport policy.

"Will he be producing at that statement what the alternative plan B will be? Will he confirm that that B stands for Lord Birt?" he asked.