HC Deb 19 January 1970 vol 794 c80W
Mr. Mikardo

asked the Minister of Transport whether he will give, for a recent period, the value of those investment projects submitted to his Department by British Railways which were accompanied by a discounted cash flow assessment but which did not show a positive present value using the test rate of discount then current, or an internal rate of return equivalent to the test rate; and what proportion of the total value of all projects which were accompanied by a discounted cash flow assessment these particular schemes represented.

Mr. Mulley

All the investment proposals submitted to me by the British Railways Board during 1969 for which a discounted cash flow assessment was appropriate, showed a net present value surplus at the discount rate in use at the time.