§ 40. Mr. Walter Johnson
asked the Secretary of State for the Environment when he expects to announce the financial assistance arrangements for British Rail over the next five years.
§ Mr. Mulley
The Railways Bill which I am introducing today deals with these matters. It will introduce a comprehensive new system of financial support for British Railways, will reduce the board's capital debt, increase their borrowing powers, put the financing of their pension obligations on a sounder basis and encourage the transfer of freight from road to rail, in particular by the payment of grants for the provision of private sidings.