§ 6. Mr. CranTo ask the Secretary of State for Transport what is the latest estimate he has as to the current level of debt being carried by the Humber bridge board.
§ Mr. ChopeThe debt on the Humber bridge at 31 March this year was just over £400 million. Since 1986, we have accepted that the bridge is an exceptional case. My right hon. and learned Friend is writing to the chairman of the bridge board to propose a package for writing off and suspending those parts of the debt that cannot be financed from toll charges. Some debt will remain to be serviced from toll revenues. I shall introduce at an early opportunity the necessary legislative measures to give effect to the arrangements.
§ Mr. CranHas not this saga gone on long enough? As my hon. Friend has admitted that this is a special case, will he be reasonably clear about when the Government will make an announcement about a partial debt write-off? I say that reluctantly, but I have had to reach that conclusion because my hon. Friend knows as well as I do that the income from the bridge does not even meet the interest payments, let alone the amount necessary to write off capital.
§ Mr. ChopeI accept that that is the problem and that is why I have just made my announcement. I cannot be more specific until we know exactly when we can bring in the legislative measures. It will then be necessary to calculate what amount of debt has to be written off to make sure that the toll charges are bearable.