§ Mr. Wallerasked the Secretary of State for Transport how much financial assistance he expects to give the Port of London Authority and the Mersey Docks and Harbour Co. in the next three months under the Ports (Financial Assistance) Bill.
§ Mr. FowlerPrecise figures will depend on the severances achieved. I shall give assistance from time to time based on claims for severance costs incurred and detailed statements of cash needs which the two authorities will be supplying to me from week to week.
At present, I expect total assistance for the period not to exceed £15 million for either authority. The payments to MDHC represent a new service for which parliamentary approval will be sought in a Supplementary Estimate for the transport industries Vote. Pending that approval, necessary expenditure will be met by repayable advances from the Contingencies Fund. The MDHC grant will supersede the overdraft guarantee which I announced to the House on 17 December.