§ Mr. Roger KingTo ask the Secretary of State for Transport how much British Rail invested each year since 1970 on both a railways and a corporate basis; and whether he will make a statement.
§ Mr. ChannonThe British Railways Board has invested the following amounts:
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Railway Investment Corporate Investment Cash £ million 1988–89 Prices £ million Cash £ million 1988–89 Prices £ million 1970 50 292 79 462 1971 62 331 93 497 1972 73 360 109 539 1973 81 374 123 568 1974 110 443 124 498 1975 150 474 171 541 1976 161 443 200 551 1977 182 440 214 517 1978 194 421 245 532 1979 229 433 300 568 1980 284 449 337 534 1981 263 373 310 440 1982 236 311 269 355 1983 241 302 277 348 11984–85 377(302) 448(358)1 404(323)1 481(384)1 1985–86 381 427 412 462 1986–87 380 414 411 447 1987–88 495 517 543 567 Its planned investment is: 1988–89 — 5602 — 6242 1989–90 — 7553 — 8123 1990–91 — 7553 — 8123 1991–92 — 7553 — 8123 1992–93 — 7553 — 8123 1 15 months accounting period. 12 month equivalent shown in brackets.
2 Budget.
3 Average annual total for remainder of Plan period.
All investment in track, signalling, locomotives, rolling stock, stations and railway facilities is included in railway investment. Corporate investment also includes investment in subsidiaries. With the sale of subsidiaries, including the shipping, hovercraft and hotels businesses, and the impending sale of BREL and Travellers Fare, the need for non-railway corporate investment is steadily decreasing.