§ Mr. Gregor Mackenzieasked the Minister of Transport what will be the rate of interest payable by the British Waterways Board on its revised commencing capital debt under the Transport Act, 1968.
§ Mr. MarshThe Board's commencing capital debt was reduced in the Transport Act, 1968, from £19,252,928 to £3,750,000 on the basis that the Board's estimated net maintainable revenue would not allow them to bear greater interest liabilities than would be represented by interest charged at a rate of 6 per cent. on a debt of £3¾ million. I have accordingly directed that the rate of interest shall be 6 per cent. from 1st January, 1969.