§ 58. Mr. ALBERYasked the Minister of Transport the extent and nature of the assistance which is being given to the Southern Railway Company by His Majesty's Government for new dock schemes at Southampton?
§ The MINISTER of TRANSPORT (Mr. Herbert Morrison)Grant has been approved in principle under Section 2 of the Development (Loan Guarantee and Grants) Act, 1929, for the purpose of assisting the Southern Railway in defraying in part during a period of 9½ years the interest payable in respect of the moneys to be expended (provisionally estimated at £3,000,000) upon a further section of the Southampton Dock extension scheme. The present value of the grant represents slightly over 18 per cent. of the estimated total cost of the extension.