§ Mr. Curryasked the Secretary of State for Transport if he will make a statement about the future of British Transport Advertising.
§ Mr. David MitchellI am pleased to announce that, following a recommendation from the British Railways Board, the Secretary of State has given his consent under section 1(2) of the Transport Act 1981 to the board's sale of British Transport Advertising Limited to a new company formed by the BTA management group.
The board's choice of the BTA management group follows an extensive competitive tender exercise. The management group will be making a payment for the net assets of the BTA business. In addition, it will make guaranteed revenue payments to the board throughout the five-year concession for the commercial advertising rights on the board's stations and properties. The new owners will take over the business towards the end of August, subject to the completion of legal arrangements.
This is another welcome step towards increasing the role of the private sector in supplying services to the railway, in line with the objectives which we have asked the board to pursue. I wish the management and staff of British Transport Advertising every success as they enter the private sector.