HC Deb 02 March 1978 vol 945 cc331-2W
Mr. Grocott

asked the Secretary of State for Transport which aspect of those nationalised industries for which he is the sponsoring Minister is constrained by

£ million
Cash Limit Capital Latest Estimate Revenue Total
British Railways Board … 685 314 356 670
National Freight Corporation … 35 34 0 34
National Bus Company … 51 46 5 51
British Transport Docks Board … -8 13 -21 -8

Mr. Grocott

asked the Secretary of State for Transport if he will list for each of the nationalised industries for which he is responsible for each year since 1972 the source of funds distinguishing between (a) borrowing from the Govern-

cash limits; what is the amount of cash limit imposed in each case; what is the performance of the industries against these limits; what proportion was used to cover up operating losses; and what proportion was used to finance investment.

Mr. William Rodgers

Limits of various kinds are applied to certain grants paid to the British Railways Board and the National Freight Corporation and to the amount of external finance available to all four nationalised transport industries. For 1977–78, the limits are as follows:

GRANTS

(a) British Railways Board

i. Grants towards operating losses Government grants for passenger and freight services are subject to cash ceilings for the Board's own financial year, which is the calendar year. For 1977 the ceilings were £375 million and £25 million respectively. The estimated outturn for these grants in 1977 is £346 million and £6 million respectively—both figures subject to audit.

ii. Other grants

£ million 1977–78

Outturn prices
Cash limit Estimated outturn
Refunds of pension fund deposits 34.3 34.3
Interest on pension fund deposits 5.0 5.0
Miscellaneous 8.85 6.6

(b) National Freight Corporation The cash limit on the cash-flow deficit grant for 1977–78 is £30.7 million. The outturn is expected to equal this figure.

EXTERNAL FINANCE The following table shows the limit on external finance set for each of the nationalised surface transport industries in the "Financial Statement and Budget Report 1977–78", together with the latest estimate of oututurn. These limits apply to the aggregate of central and local government grants, borrowing and leasing.

ment, (b) borrowing from overseas, (c) subsidies from Government grants and compensation and (d) internal financing.

Mr. William Rodgers

This information will take a little time to collate. I will write to my hon. Friend.