HC Deb 19 April 1967 vol 745 cc90-1W
59. Mr. Park

asked the Minister of Transport what will be the effect on the deficit of the British Railways Board of establishing the basic railway network.

Mrs. Castle

All the lines shown on the Network Map are already in being and its publication will have no immediate effect on the Railways Board's deficit. In the long term the stabilisation of the industry will be a factor tending to improve its financial performance.

Mr. Dodds-Parker

asked the Minister of Transport what was the profit and loss on the operation of British Railways annually since nationalisation, including interest on capital; and what has been the capital sums drawn from the Exchequer annually.

Mr. John Morris

The figures of surplus or deficit and of loans from the Exchequer are as follows:

Net surplus or deficit on revenue account* Loans from the Exchequer
£ million £ million
1948 8.2 (deficit) Nil†
1949 23.4 (deficit) Nil
1950 10.8 (deficit) Nil
1951 0.7 (deficit) Nil
1952 3.7 (surplus) Nil
1953 2.4 (deficit) Nil
1954 21.6 (deficit) Nil
1955 38.2 (deficit) Nil
1956 57.5 (deficit) 40‡
1957 68.1 (deficit) 61
1958 90.1 (deficit) 112
1959 84.0 (deficit) 112
1960 112.7 (deficit) 145
1961 135.9 (deficit) 144
1962 159.0 (deficit) 77
British Railways Board's results on revenue account§ Loans from the Exchequer
£ million £ million
1963 133.9 (deficit) Nil
1964 120.9 (deficit) 15
1965 132.4 (deficit) 35
* After central charges (mainly interest charges) but excluding interest charged to the special account in the years 1956 to 1962 (£158.1 million for the seven years).
† Up to 1955 the Commission borrowed by the issue of stock.
† Up to the end of 1962 British Railways were part of the British Transport Commission and separate figures of loans from the Exchequer are not available. The figures given are for loans to the British Transport Commission for all their activities from 1956 to 1962.
§ Because of the changes brought about by the Transport Act 1962 and the adoption by the British Railways Board of different accounting arrangements, figures cannot be given which are precisely comparable with those for earlier years. The figures quoted are the Board's total revenue results and include surpluses on ships, harbours, hotels, etc.