§ 45. Mr. Heddleasked the Secretary of State for Transport, further to his answer of 23 December 1981, what further progress has been made in introducing more private capital into the transport system.
§ Mr. Kenneth ClarkeA conditional agreement for the sale of the National Freight Company Ltd. was signed on 15 January. This gives the National Freight Consortium PLC—the consortium—the option of purchasing the issued share capital of NFC if the consortium succeeds in raising £4.125 million through the sale of shares to directors, employees and pensioners of NFC. The consortium has issued its prospectus to employees and pensioners and completion is expected soon. The British Railways Board has sought our consent to arrangements for the sale of two hotels. We have published legislation needed to pave the way for the introduction of private capital into the National Bus Company.