HC Deb 29 January 1988 vol 126 cc403-4W
Mr. Butler

To ask the Secretary of State for Transport (1) what his estimate is in current cost terms of the aggregate revenue specified as recoverable under the Severn Bridge Tolls Act 1965 between 1988 and 2005;

(2) if, pursuant to his answer of 14 December 1987, Official Report, columns 421–2, he will show the calculations by which he derives the need for tolls on the Severn bridge to rise by about 70 per cent. and be maintained in real terms to achieve the objective set out in the Severn Bridge Tolls Act 1965.

Mr. Peter Bottomley

At current toll levels, updated in line with a low rate of inflation, revenue in the period 1988–2005 is estimated to be about £230 million to £260 million depending on assumptions about the rate of traffic growth. The debt of £77 million at the end of the 1986–87 financial year is estimated to rise by the end of that period, because of continuing annual deficits, to between £270 million and £310 million.

A 70 per cent. tolls increase introduced immediately and maintained in real terms should, assuming high traffic growth and low inflation, enable debt to be eliminated by about the end of the period of 40 years specified in the Severn Bridge Tolls Act 1965.