§ The Secretary of State for Transport (Mr. Alistair Darling)
Network Rail plans to launch a Debt Issuance Programme (DIP) later this autumn. This will provide a long term, flexible financing platform for Network Rail. It will allow the company to raise finance at a lower cost than the previously envisaged securitisation. Details of the DIP and the support Government intends to provide for it by means of a financial indemnity are set out in Minutes laid before the House today.