§ Lord Brabazon of Taraasked Her Majesty's Government:
What are their plans for the privatisation of London Buses Ltd.
The Earl of CaithnessWe have written to the Chairman of London Transport to inform him of our agreement in principle to the early privatisation of the subsidiaries of London Buses Ltd. Before the companies can be sold, the services they operate on behalf of London Transport must be put on a clear contractual basis. 40 per cent. of the LT network is already operated under contract by private firms or LBL companies, and there will be a further round of competitive tendering next year to increase that proportion. The remaining routes operated by LBL subsidiaries will be put on a formal contractual basis from 1st April 1993, paving the way for the LBL companies to be offered for sale from late 19938WA onwards. We remain firmly committed to deregulation of the London bus market at the earliest opportunity. Early privatisation will help to ensure that competition in the deregulated market takes place on a free and fair basis.