§ Rear-Admiral Morgan-Giles
asked the Secretary of State for the Environment whether he has yet determined the amount of grant to be made in 1972 to the National Freight Corporation under Section 5(5) of the Transport Act, 1968.
§ Mr. Peyton
With the approval of the Treasury I have agreed to make a grant of £3.7 million for 1972. This will cover the full estimated deficit of National Carriers Ltd. The corporation has succeeded in reducing the annual loss much more rapidly than was envisaged in 1968, and it is not therefore necessary to limit the grant to two-thirds of the estimated deficit as proposed by the previous Administration in "The Transport of Freight", Cmnd. 3470.