§ 62. Mr. GILBERTasked the Parliamentary Secretary to the Ministry of Transport whether any arrangement has been come to with the London Underground Railways Company either to advance any money or to guarantee any loans for the purpose of extending or altering some of the tube railways; what the agreements are, what sums it advances or guarantees, and what railways it deals with; and will he make a general statement on the matter, stating what labour it will employ and for how long a period?
Mr. YOUNGThe Treasury, on the recommendation of the Trade Facilities Advisory Committee, have agreed to guarantee a loan lo be raised by the London Underground Railways for the purpose of extending and improving their tube railway. The full details of the arrangements have not yet been agreed, and I do not think it would be desirable to make an incomplete statement. The company estimate that 15,000 to 20,000 men will be provided with work for a period of from 18 months to 2 years on the actual construction, and when the work is completed permanent employment will be provided for a considerable number.
§ Mr. GILBERTCan the hon. Gentleman say, approximately, what the amount will be?
Mr. YOUNGI think I shall be able to make a complete announcement very shortly, and I would ask the hon. Gentleman not to press me for details to-day.