§ Sir Marcus Kimballasked the Secretary of State for Transport what effect the recent strikes on British Railways have had on the board's position; what action the Government intend to take; and if he will make a statement.
§ Mr. David HowellThe board estimates that the immediate net loss of revenue caused by the strike has been some £75 million. It would be quite wrong to meet this loss at the taxpayers' expense. But it is bound to take time for the British Railways Board to make all the necessary adjustments to deal with the problem it presents. I have accordingly increased the board's temporary borrowing limit from £110 million to £150 million. It is likely that the external financing limit for 1981–82 will now be exceeded. To the extent that this occurs, there will be a corresponding reduction in the external financing limit already announced for 1982–83.