HC Deb 04 May 1966 vol 727 cc1616-7
9. Mr. Patrick Jenkin

asked the Minister of Transport what steps she has taken, in pursuance of the recommendation contained in paragraph 83(i) of the Eighth Report of the National Board for Prices and Incomes, to determine and make public a realistic annual target for the reduction and eventual elimination of the railways' working deficit.

Mr. John Morris

My right hon. Friend proposes to establish realistic financial targets for the Railways Board, but this implies a change in the terms of reference given to the Board by the Transport Act, 1962. She will be dealing with this matter in detail in her forthcoming White Paper on Transport Policy.

Mr. Jenkin

Does the Joint Parliamentary Secretary recognise that clear financial objectives are essential to good management? When can we expect this statement? How long will British Railways be without a proper objective?

Mr. Morris

Of course, I accept that there should be clear financial objectives, but I also accept that there must be realistic financial objectives. Everyone now recognises that the Tory Transport Act of 1962 was completely unworkable, and that is what we intend to amend.

Mr. Molloy

Will my hon. Friend also bear in mind the important aspect of social responsibility and will he assure the House that it will be taken fully into account?

Mr. Morris

Yes. Social responsibilities are very important and one of them is for commuter services, as the hon. Member for Wanstead and Woodford (Mr. Patrick Jenkin) should know, because these services cost a great deal of money, but it is very important to maintain them.