§ Mr. Teddy Taylorasked the Secretary of State for Transport if it is the policy of Her Majesty's Government that no large contracts should be placed in connection with the Channel tunnel project until the presenters provide evidence to Her Majesty's Government that the shareholders and lenders have agreed to it; and if he will make a statement.
§ Mr. David MitchellSince this is a wholly private sector project, the Government do not consider it necessary to require evidence that shareholders and lenders have agreed to contracts. The concession does not therefore contain a requirement to that effect. The Government's concern is that sufficient funds should be available to finance the works, and clause 5.2 of the concession requires the concessionaires to satisfy the Government on that point.
§ Mr. Teddy Taylorasked the Secretary of State for Transport why article 8.4 of the draft concession for the Channel tunnel project was withdrawn; and if he will make a statement.
§ Mr. David MitchellThe Channel tunnel concession went through many drafts before reaching its final form, but it would not be appropriate to reveal details of this commercial negotiation.
§ Mr. Teddy Taylorasked the Secretary of State for Transport if he will ascertain from the French Government whether it is their policy that major contracts for the Channel tunnel project should not be placed until evidence is provided that the shareholders and lenders have given their consent; and if he will make a statement.
§ Mr. David MitchellLike the British Government, the French Government are a signatory to the Channel tunnel concession, which does not contain such a requirement.