§ Mr. Skeetasked the Secretary of State for the Environment, since over £1,500 million has been written out of British Rail's accounts following several capital reconstructions, what is the consequential loss to the British taxpayers in terms of (a) this sum which must also be serviced annually and (b) actual grants made to British Rail to cover current and past losses not written off.
§ Dr. GilbertDebt written out of the Board's accounts becomes a liability of the Consolidated Fund but the cost of servicing it cannot be separately identified. Following the latest reconstruction under the Railways Act 1974 grants to the Board in 1975 are estimated at £510 million, consisting mainly of revenue support, but including some £35 million toward repayment of capital obligations to pension funds.