1. Mr. Edward M. Taylorasked the Minister of Transport what estimate she has made of the net return on capital earned by British Transport hotels in each of the past three years.
§ The Joint Parliamentary Secretary to the Ministry of Transport (Mr. John Morris):The Railways Board informs me that the return on capital in the years 1963, 1964 and 1965 was 10.5 per cent., 13.5 per cent. and 9.5 per cent. respectively. Figures for 1966 are not yet available.
Mr. Taylor: Does the hon. Gentleman agree that these are relatively poor returns, especially as these book values are clearly out of date? Can he say what plans the railways have to improve the position and, in particular, what plans they have for opening new or closing old hotels?
§ Mr. MorrisThese returns for 1965 which, I admit, are lower than those of previous years, are attributable to rising costs and difficult trading conditions affecting the hotel industry generally. I have no information about the extension of these hotels. If the hon. Gentleman will put down a Question about that, I will try to answer it