§ Mr. Wrigglesworthasked the Secretary of State for Transport (1) whether the Government propose to alter their financial commitments to, or relationship with, the British Railways Board in light of the proposed sale of Sealink;
(2) whether the proceeds of the sale of Sealink will accrue to the British Railways Board or to Her Majesty's Government.
§ Mr. David MitchellSealink is wholly owned by BR and the proceeds of the sale will accrue to it. This will allow BR to meet a greater proportion of its financial needs without recourse to external borrowing. If BR's requirement for external finance is found, as a result of the sale or other reasons, to have departed substantially from the external financing limit, the Government will naturally wish to review it. The Government's relationship with BR will not be altered by the sale.