§ Mr. Wilsonto ask the Secretary of State for Transport (1) what the cost to the Exchequer will be of fully writing off the debt of £1.4 billion incurred by European Passenger Services Ltd. in order to incorporate it into a joint venture company with he private sector to build the channel tunnel rail link;
(2) whether it is his intention to reduce or write off the capital debt of assets belonging to European passenger Services Ltd. before its incorporation as a Government-owned company.
§ Mr. FreemanEuropean Passenger Services Ltd. will be established as a Government-owned company, and eventually transferred to the private sector promoter of the new channel tunnel fixed link, free of the long-term debt which it currently owes to the British Railways Board. The liability to repay these loans will remain with BR or Railtrack.