HC Deb 08 November 1976 vol 919 c8W
23. Mr. Gow

asked the Secretary of State for Transport what are the present liabilities of the National Freight Corporation to him; and by how much, taking those liabilities into account, the liabilities of the NFC exceed its net assets.

Mr. William Rodgers

As shown in the corporation's consolidated balance sheet as at 31st December 1975, capital liabilities to the Secretary of State amounted to £154 million. These liabilities together with debentures and loans of subsidiaries and minority interests totalled £164.6 million, which exceeded net assets—defined as fixed plus current assets less current liabilities and provisions—by £104.4 million.