§ Mr. Stevensasked the Secretary of State for Transport what was the total amount paid to the pension funds out of the proceeds of sale of the National Freight Company Ltd.
§ Mr. David HowellThe proceeds of sale of the National Freight Company were £53.5 million. The total 363W paid, as provided for under section 49 of the Transport Act 1980, to fund deficiencies in the NFC's pension schemes is £48,673,000. This total was made up of an immediate payment on sale of £47,297,000 and an adjustment to meet certain transfer payments not quantified at the date of sale but now settled of £1,376,000.