§ Mr. Tony BanksTo ask the Secretary of State for Transport if he will make a statement on changes to the capital programmes of London Transport following the 1992 autumn statement.
§ Mr. NorrisLondon Transport will have to reassess its investment plans in the light of the funding announced in the autumn statement. Subject to that, I believe the settlement is sufficient to allow London Transport to invest £1.75 billion in the existing bus and underground system over the coming three years. This is some £0.5 billion higher, in real terms, than investment over the past three years. The funding is also sufficient to allow preparatory work on Crossrail to continue. And provision has been made for the Jubilee line extension, so that it can go ahead if the administrators of Olympia and York can meet our conditions on the provision of private finance by them.