§ Mr. GILBERTasked the Financial Secretary to the Treasury whether he can now state the definite terms of the loan guaranteed by the Government to 1563W the underground railway companies of London; whether one of the conditions is the provision of an annual sinking fund for repayment of the loan; if so, can he state details of the same; and were any conditions imposed on the companies as regards charging reasonable fares to passengers, and also providing efficient and sufficient services for the passengers on the tube railways which are to be improved and extended?
Mr. YOUNGThe definite terms of the loan guaranteed by the Government to the underground railway companies have not yet been settled, and I therefore cannot say whether or not one of the conditions will be that an annual sinking fund should be provided for the repayment of the loan, but in any case the repayment will be an unconditional obligation of the companies. As regards the last part of the question, no special conditions were imposed: but the companies are, of course, amenable to the existing provisions of the law in this respect. One of the results of the guarantee will be that the accommodation on the City and South London Railway will be very considerably improved, and the comfort of travelling public there by increased.