§ Mr. Skeetasked the Secretary of State for Transport (1) what is the self-financing ratio of British Railways;
(2) what have been the total capital write-offs sustained by British Railways since nationalisation; and what is the negative yield on net assets.
§ Mr. William RodgersIf statutory grants are viewed as revenue earned, and their contribution to depreciation is included, the board's self-financing ratio for investment on capital account in 1975 was just under half. If they are not so viewed, then the ratio is effectively nil. Similarly, estimates of return on net assets depend upon the conventions adopted in respect of grants to the board. For information872W about reductions on capital liabilities I would refer the hon. Member to my reply to the hon. Member for Wellingborough (Mr. Fry) on 15th December 1976.—[Vol. 922, c. 740–1.]
§ Mr. Skeetasked the Secretary of State for Transport what is the amount of subsidy which has been paid by the State to British Railways in each of the past five years and the total of local authority grants provided to the British Railways Board for operating uneconomic services which have to be maintained for social purposes.
§ Mr. William RodgersI would refer the hon. Member to my reply to the hon. Member for Warwick and Leamington (Mr. Smith) on 10th January 1977.—[Vol. 923, c.400–6.]