§ 56. Major NEWMAN
asked the Chancellor of the Exchequer whether it is intended to make any public statement or publish accounts showing the profit or loss to the taxpayer from the State control of our railway systems combined with a guaranteed minimum dividend to shareholders; and, if not, can he say generally whether the control and guarantee has resulted in a profit or loss for the years L915 and]916, respectively?
My right hon. Friend has asked me to answer this question. It is not proposed to publish any accounts of this character, and at present I can only say generally that there would appear to be no reason to regard as financially unsatisfactory to the State, the arrangement under which military and naval traffic is carried free on the railways in consideration of the guarantee by the Government of the companies' net receipts in 1913.