§ 71. Mr. LYLEasked the Minister of Transport whether, in view of the decrease in the cost of labour owing to the fall in the Board of Trade index number, the public may anticipate in the near future some reduction in the heavy fares on the underground railways of London; whether his attention has been called to the increase in the value of the shares of the company operating such railways; and whether the original concessions made by Parliament in respect of the fares are now proving to have been excessive?
§ The PARLIAMENTARY SECRETARY to the MINISTRY of TRANSPORT (Mr. Neal)My right hon. Friend has not overlooked the powers of review conferred upon him by Sub-section 3 of Section 6 of the London Electric Railway Companies (Fares, etc.) Act, 1920, and at the termination of the present half-year the companies will be called upon to submit statements of the financial results of working for examination. It is upon these figures and not upon fluctuations in the market price of shares that any adjustment of charges must be based