HL Deb 20 October 1992 vol 539 c80WA
Lord Swinfen

asked Her Majesty's Government:

What is the future of the British Railways Board parcels service, Red Star.

The Earl of Caithness

We have received representations from the British Railways Board seeking approval to the early trade sale of Red Star, and on 7th October we announced our agreement to that proposal. The detailed sale arrangements will be drawn up by the board, subject to government scrutiny in the usual way. We welcome the board's commitment to Red Star privatisation. An early sale is the best way to revitalise the business and return it to profitability.