§ Mr. Skeetasked the Secretary of State for Transport if he will make a further statement about the Bedford-St. Pancras electrification and give an estimate of the total cost sustained to British Rail to date through the inoperation of the system.
§ Mr. Eyre[pursuant to his reply, 7 February 1983, c. 290]: Compared with its original estimates, the board estimates a £1.3 million shortfall on its profit and loss account in 1982 for this service, more than half being due to the non-introduction of electric trains.
§ Mr. Skeetasked the Secretary of State for Transport if he will give an analysis of the £153.5 million, at mid-1981 prices, spent on the electrification of the Bedford-St. 344W Pancras railway and the rate of interest payable on the funds granted by the national loans fund to British Rail for the project.
§ Mr. Eyre[pursuant to his reply, 7 February 1983, c. 290]: The most recent estimate made by the Railways Board of the total cost of modernising and electrifying the London to Bedford railway is £153.7 million at mid-1982 prices. This sum comprises £68.1 million for items already in use, and £85.6 million in respect of investment which is standing idle. A full analysis is as follows:
£ million Resignalling and track works 24.1 Track rationalisation and route improvements 32.8 Maintenance depots 11.1 Electrification fixed works 30.5 Rolling stock 47.0 Traffic expenses approx 2.0 Kings Cross Midland Station approx 6.0 It is not possible to hypothecate individual loans from the national loans fund to individual investments.
§ Mr. Skeetasked the Secretary of State for Transport what he expects to be the annual saving on the operation of the electrified Bedford-St. Pancras rail service assuming a one-man operation compared with the use of the present diesel multiple units.
§ Mr. Eyre[pursuant to his reply, 7 February 1983, c. 290]: The saving depends on the level of specific rewards which are eventually paid to the staff involved.