§ 23. Mr. Gowasked the Secretary of State for Transport what are the present liabilities of the National Freight Corporation to him; and by how much, taking those liabilities into account, the liabilities of the NFC exceed its net assets.
§ Mr. William RodgersAs shown in the corporation's consolidated balance sheet as at 31st December 1975, capital liabilities to the Secretary of State amounted to £154 million. These liabilities together with debentures and loans of subsidiaries and minority interests totalled £164.6 million, which exceeded net assets—defined as fixed plus current assets less current liabilities and provisions—by £104.4 million.