§ Mr. Spearingasked the Secretary of State for Transport what criteria of social cost benefit he currently applies to proposals for further conventional tube or rapid transit rail investments in Greater London.
§ Mr. David MitchellNew Underground or rapid transit rail investments in London are normally expected to show a real financial rate of return of at least 7 per cent. But we recognise that some proposed investments which do not satisfy this criterion may have significant non-financial 779W costs or benefits, for example, to road users. Where such costs and benefits need to be taken into account, the investment would normally have to show at least a 7 per cent. return on a cost-benefit basis.