HC Deb 08 December 1980 vol 995 cc280-1W
Mr. Hordern

asked the Minister of Transport if he will publish a table showing the sums of debt written off, interest forgone and additional sums given to the nationalised industries and companies for which he has responsibility, in each of the last 10 years; and what further sums are proposed.

Mr. Fowler,

[pursuant to his reply, 1 December 1980]: I am publishing below a table whch sets out the required information. As my hon. Friend will see, a high proporton of Government support over the last decade has gone to the British Railways Board. At outturn prices, central Government grants have totalled £3,345 million. In addition, the write-off of capital debt of £189 million has relieved the board of interest totalling £84 million to date, and £629 million has been paid towards the board's pension liabilities. At constant (1979 survey) prices, the equivalent totals are: grants £4,344 million, interest relief resulting from the write-off of capital debt £96 million and support to pensions £700 million.

Total central Government grants to the National Bus Company over the period have been £305 million (£391 million at 1979 survey prices). Grants to the National Freight Corporation have totalled £107 million (£142 million at 1979 survey prices); the write-off of £153 million of capital debt has resulted in relief from interest totalling £ll million to date (£1.0 million at 1979 survey Prices), and support to pensions has amounted to £11 million (£9 million at 1979 survey prices).

Grants will continue to be paid to the British, Railways Board in compensation for the public service obligation to operate the passenger railway and towards the cost of level crossings. The amount of grant is set each year, within the Provision made in the relevant public expenditure White Paper. I have no proposals for new forms of grant or for the further writing off of any capital debt.

The National Bus Company will continue to be eligible, along with other operators of stage carriage services, for fuel duty rebate and new bus grant. I have no proposals to make other grants to the company or to write off debt.

Payments of travel concession grant and capital grants will continue to be made to the National Freight Company Ltd under the Transport Act 1978.

Grants will continue to be paid to British Railways and National Freight Company pension funds under section 52 of the Transport Act 1980. 1 am empowered under section 49 of the Transport Act 1980 to make payments, from the proceeds of sale, towards the funding of certain pension obligations of the National Freight Company 's funds if they are not fully funded when shares are offered for sale.

No grants have been paid to the British Transport Docks Board, and no debt has been written off. Proposals for changes in the capital structure of the undertaking will be included in legislation which I shall introduce shortly to enable shares in it to be sold.