§ Mr. Molloyasked the Minister of Transport what steps she proposes to take to exercise her powers under the Transport Finance Act 1966 to make grants 277W to the London Transport Board in respect of deficits arising on the Board's revenue account.
§ Mrs. CastleA Summer Supplementary Estimate seeking provision for payments to the Board in Exchequer Financial Year 1966–67 will be presented to the House soon. I propose to make on 1st July a first payment of about £2 million in respect of deficit accrued since the 1st January, 1966. This will be financed from the Civil Contingencies Fund pending the availability of Supply.
Grants in respect of revenue deficits for each of the years 1967 and 1968 will be paid under normal Supply procedures.
In all cases, payments will be made to the Board only after compliance with procedure similar to those which have applied to deficit grant payments to the Railways Board and Waterways Board since 1963.