§ Mr. John Marshall
To ask the Secretary of State for Transport how much money has been raised so far by privatisation of London Buses; and what was the forecast made in the 1993 autumn statement.
§ Mr. Norris
Six companies have so far been privatised, realising proceeds of approximately £140 million. Under arrangements agreed at the time of the unified budget, provision was made for London Transport to retain all proceeds up to £100 million and 25 per cent. of receipts above that level.