HC Deb 24 January 1940 vol 356 cc569-70
38. Mr. Rostron Duckworth

asked the Minister of Transport whether agreement has yet been reached between the railway companies and the Treasury as to the terms of compensation for the use of the railways?

44. Sir A. Knox

asked the Minister of Transport when he anticipates that it will be possible to come to an agreement with the railway companies to enable them to pay dividends to shareholders?

78 and 79. Mr. Ridley

asked the Minister of Transport (1) whether, in view of the difficulty and delay experienced in reaching a financial agreement with the undertakings controlled by the railway executive, he will introduce legislation for the purpose of coordinating transport services under public ownership and control;

(2) whether a financial agreement has now been reached with the undertakings controlled by the railway executive; and, if not, whether he will state the reason for the delay?

80. Captain W. T. Shaw

asked the Minister of Transport when he will be in a position to announce what compensation is to be paid to the railway companies so that stockholders may know what dividends and interest they may expect?

Captain Wallace

I regret that it is still not possible for me to say that agreement has been arrived at, but these negotiations have now reached such a stage that I am hopeful that I shall be able to make an early statement.

Mr. Herbert Morrison

Can the right hon. and gallant Gentleman say whether it is the intention, when agreement is reached, to publish the terms of the agreement? Will there be any opportunity for the discussion by the House of its terms in view of the large financial implications which will be involved?

Captain Wallace

I think it will certainly be necessary to publish the terms of the agreement and I imagine there will be ample opportunity for Members to debate it.

Mr. Lawson

May I ask whether there will be any consideration of compensation for the people who have been frozen while travelling on the railways?

Captain Wallace

On the question of weather I think the hon. Gentleman must address himself to a higher authority than me.

Sir Henry Morris-Jones

Is it possible for my right hon. and gallant Friend to intercede with the Great Western Railway with regard to the withholding of the dividend payments they should make?

Captain Wallace

I can only repeat what I said in the House last week—that I know of no reason why the railway company should defer payment of dividend on pre-ordinary stock.

Mr. H. Morrison

Can the right hon. and gallant Gentleman say whether the agreement which presumably involves large sums of public money will be subject to the approval of this House?

Captain Wallace

I cannot say at the moment without notice. Anyway, we have not made it yet.