§ Mr. Tebbitasked the Secretary of State for the Environment (1) what was the rate of return in the last year for which accounts are available on the assets employed in British Waterways;
306W(2)what is the estimated target set for the British Waterways Board expressed as a rate of return on assets employed for the financial year;
(3) whether he has agreed the corporate plan for the financial years ending in 1976, 1977 and 1978 in respect of the activities of the British Waterways Board; and, if so, what targets he has set;
(4) what are the latest estimated trading results for the current year for British Waterways.
§ Mr. Denis HowellThe activities of the British Waterways Board are only partly commercial and incur a loss before Exchequer grant. In 1974, the last year for which accounts are available, the grant paid to the Board was £5.3 million. The provisional deficit to be met by grant for 1975 is £8 million and the Board estimates its deficit for 1976 at about £10 million.
Inland waterways policy is being reviewed. Consulting engineers have been appointed to investigate the cost of operating and maintaining the Board's system of waterways, and their report is expected shortly.