§ Mr. Peter BottomleyTo ask the Secretary of State for Transport what is the capital cost and the net present value of the proposed rail improvements at Borough Market and of the Thameslink 2000 project.
§ Mr. NorrisPreliminary estimates by British Rail suggest that the net capital cost of the Thameslink 2000 project as a whole would be about £1 billion; that it would have a negative financial net present value, discounted at 151W 8 per cent., of about £600 million but positive net present value of about £1 billion if non-priced benefits were taken into account.
The element of capital costs in the Borough Market area is estimated to be in the order of £80 million to £90 million; no meaningful net present value can be attached to this element of the project in isolation.
British Rail is continuing its appraisal work.