HC Deb 17 December 1992 vol 216 cc338-9W
Sir John Stanley

To ask the Secretary of State for Transport in what areas of his Department's responsibilities he has introduced, or may introduce, private finance; and if he will describe in each case the procedures by which private finance is sought.

Mr. MacGregor

We are already promoting private sector investment in transport through:

  • —privatisation in several transport areas:
  • —turning over complete projects to the private sector (as in the case of the channel tunnel and the Queen Elizabeth II bridge at Dartford);
  • —developer contributions (such as I am negotiating for the Jubilee line extension).

I very much welcome the changes relating to the use of private finance announced by my right hon. Friend the Chancellor of the Exchequer in his autumn statement. I have recently been developing plans to encourage more private sector involvement in joint ventures and other initiatives, particularly in relation to major road and rail schemes. I am also keen to encourage the private sector to come forward with its own proposals.