§ Mr. Nicholas BennettTo ask the Secretary of State for Transport if he will uprate to 1989–90 prices the figures for investment by British Rail in the reply given to the hon. Member for Pembroke on 6 April,Official Report, columns 263–64.
§ Mr. PortilloThe figures are as follows:
142W
£ million cash £ million 1989–90 prices 1948 40 603 1949 44 640 1950 43 624 1951 41 548 1952 38 468 1953 56 666 1954 63 749 1955 68 771 1956 90 966 1957 120 1,235 1958 134 1,324 1959 154 1,512 1960 147 1,427 1961 130 1,220 1962 94 855 1963 73 646 1964 83 710 1965 92 748 1966 81 632 1967 65 488 1968 58 423 1969 39 267 1970 48 305 1971 59 346 1972 73 397
£ million cash £ million 1989–90 prices 1973 81 410 1974 103 456 1975 157 546 1976 176 534 1977 193 511 1978 208 494 1979 248 518 1980 304 529 1981 277 433 1982 243 352 1983 252 347 19841 280 368 1985–86 399 491 1986–87 399 475 1987–88 526 594 1988–89 596 2629 1 1984–5 was a 15 month financial period. The figure shown for 1984 is the 12 month internally reported result. 2 forecast outturn. The figures include investment in Freightliners, BRML and BREL but exclude the laying of continuous welded track which BR do not now classify as investment.
Indicative figures for BR's plans for future investment (excluding investment in BREL, which is being sold, and in the proposed high speed link to the Channel tunnel) are:
£ million 1989–90 781 1990–91 865 1991–92 928 1992–93 865 In order to show the most consistent picture the figures in the table include some elements of "corporate" as well as "railway" investment. BR's standard definitions of these have changed over the years. The figures have been adjusted to current values by the most recent indices. They show that there was a high level of investment during the modernisation programme of the late 1950s and early 1960s. BR's route mileage now is 45 per cent. less than it was in the peak investment year of 1959, but passenger mileage is currently at broadly the same levels as in 1959.