§ Mr. Mikardoasked the Minister of Transport if he will bring up to date the statistics showing the punctuality of British Railway passenger trains which were given in a Written Answer on 5th June, 1967.
§ Mr. MulleyThe statistics are as follows. The figures for 1969 are given only for the 48 weeks ended 29th November, 1969, the latest date for which they are at present available.
the former private owners of British railway undertakings.
§ Mr. MulleyThe information is not precisely available in the form requested. £927,313,593 of British Transport 3 per cent. Guaranteed Stock 1978–88 was issued in 1948 as compensation to former owners of railway undertakings vested in the British Transport Commission and now owned by the British Railways Board. The annual interest charge thereon of £27.8 million was a charge against the revenues of the British Transport Commission. This stock was also issued as compensation for other assets acquired by the B.T.C., however, and under Section 36 of the Transport Act, 1962, the rights and liabilities (inclusive of interest payments) of the B.T.C. in respect of £1,052,169,975 of the stock which had not been cancelled or redeemed passed to H.M. Treasury, and became known as 83W British Transport 3 per cent. Stock 1978–88. As a result of the capital relief provided for British Railways in the Transport Acts of 1962 and 1968, the board's current interest burden cannot be related in any way to compensation payment.