HC Deb 12 December 1979 vol 975 c693W
65. Mr Edwin Wainwright

asked the Secretary of State for the Environment what are the amounts of Government grants given to improve British waterways over each of the past five years; and what is the estimated figure for 1980–81.

Mr. Fox

Annual grants to the British Waterways Board over the past five years to enable it to meet the deficit on its operations are as follows:

1975–76 8.6
1976–77 10.3
1977–78 13.1
1978–79 18.1
1979–80 (est) 21.0

The estimated amount for 1980–81 is £24.1 million. These grants are not intended for improvement works, but enable the Board to meet its statutory maintenance obligations.

The only major waterways improvement scheme being undertaken by the Board is the Sheffield and South Yorkshire Navigation scheme, which is being financed by borrowing.

80. Mr. Alexander

asked the Secretary of State for the Environment if he will alter the system whereby the capital costs of the British Waterways Board bear continuing interest at 15 per cent. which has to be passed on to its customers.

Mr. Fox

The commencing capital debt of the Board bears interest at 6 per cent. and subsequent loans to finance capital investment are at various rates. Interest is a proper charge to revenue account, the substantial deficit on which is met by grant-in-aid from the Exchequer.