§ Mr. Rathboneasked the Minister of Transport if, further to his answer to the question of the hon. member for Leominster (Mr. Temple-Morris) on British Railways subsidiaries on 10 December, Official Report, c. 1389–90, he is able to give some indication of the open market value of British Transport subsidiaries on the basis of last available turnover and profit figures.
§ Mr. FowlerI regret not. The market value of each business would depend on the timing and manner of disposal.
§ Mr. Rathboneasked the Minister of Transport (1) how his stated policy of removing subsidiary companies of British Transport from the necessary public sector restraints as expressed in his reply to the hon. Member for Eastleigh (Sir D. Price) on 10 December, Official Report, c. 1389, will apply to British Transport Advertising;
(2) whether having regard to his answer to the question of the hon. Member for Leominster (Mr. Temple-Morris) on 10 December, on British Railways subsidiaries, Official Report, c. 1389–90, it is his policy to introduce private capital into only the least profitable subsidiaries; and whether he will give further consideration to the transfer of British Transport Advertising, in whole or in part, to the private sector.
§ Mr. FowlerIt is my policy to encourage the Railways Board to take advantage of all suitable opportunities to introduce private capital into their subsidiary activities, whatever their profitability. However, as I told my hon. Friend on 2 December, the transfer of BTA, which is a company jointly owned by BRB and NBC, does not form part of my present plans.