12. Mr. Edward M. Taylorasked the Minister of Transport what has been the total sum expended by British Railways on capital works since 1950.
§ Mr. John MorrisAbout £1,754 million on railway investment.
Mr. TaylorIn the light of that figure, how can the hon. Gentleman possibly justify writing down the capital debt of British Rail to £300 million in the Transport Bill? Can he wonder that many people consider that he is just using accountancy gymnastics to shuffle the deficit under the rug?
§ Mr. MorrisThe hon. Gentleman has got the figure of £300 million wrong. The total value of the assets, including the capital debts, of British Rail is over £700 million. But the writing off of capital, which is urgent and imperative, is a colossal indictment of the gross mismanagement of the control of investment by our predecessors. After all, this is the responsibility of Ministers.