§ Mr. Peter BottomleyTo ask the Secretary of State for Transport what advice he has received from external sources on the effect of the cost of capital to private investors relative to the cost to the public sector on the level of future investment in the railways.
§ Mr. FreemanWe receive advice on a regular basis from our merchant bank advisers, Samuel Montagu. The cost of capital to private sector companies involved in the railway will depend on the market's view of the risks and rewards involved.