§ Mr. ButlerTo ask the Secretary of State for Transport what is his policy with regard to the capitalisation of the interest on the debt on the Mersey tunnels.
§ Mr. David MitchellAs my right hon. Friend announced in reply to my hon. Friend the Member for Leeds, North-East (Mr. Kirkhope) on 18 December 1987, he has decided to extend the current power to capitalise interest charges to 30 September 1988 and this was notified to the Merseyside passenger transport authority. My right hon. Friend is awaiting information from the PTA on long-term projections of revenue and expenditure with a view to discussing with them ways of dealing with the problem of accumulated debt.