§ 47. Mr. Colin Shepherdasked the Secretary of State for Transport if he will report on progress in securing new private investment in the public sector.
§ Mr. FowlerI informed the House on 18 June of the proposal I have received from senior managers of the National Freight Company for a widely based consortium of managers and employers to purchase the company. I have also informed the House recently of British Rail's plans to dispose of three important Scottish hotels to a new private sector company, in which it has taken a one-third shareholding. The current Transport Bill provides for the further introduction of private capital into British Rail's subsidiary businesses and into the British Transport Docks Board. I have also completed, agreed terms for, or accepted in principle offers for the sale of new leases for four-fifths of the English motorway service areas; these sales have already brought £42 million to the Exchequer.