§ Mr. Sheldonasked the Secretary of State for the Environment if he will specify the financial risks and commitments 324W undertaken by the international private group on the Channel Tunnel.
§ Mr. PeytonThe Group's share of financial risks and commitments for later phases of the project will be discussed during the first phases of studies on the basis settled with the group on 22nd March. If, in the event no formal agreement can be reached, the Group will transfer to the British and French Governments the results of the first phase of studies and, depending on the circumstances of the failure to reach agreement, the two Governments will reimburse to the Group the whole or part of their approved costs. On present estimates Her Majesty's Government's share of the contingent commitment to the Group is under £500,000.
§ Mr. Sheldonasked the Secretary of State for the Environment what estimate he has made of the cost of each of the phases of the final study of the Channel Tunnel undertaken by the international private group.
§ Mr. PeytonThe costs of the first phase of studies are estimated now at something under £1 million. One of the objects of this first phase is to arrive at a costed programme for later phases.