§ Mr. Nigel EvansTo ask the Secretary of State for Transport if he will announce British Rail's and Railtrack's external finance contributions for 1994–95; and if he will make a statement. [18277]
§ Mr. WattsBritish Rail's external finance contribution for 1994–95 will be £310 million. Railtrack's EFC will be £316 million. The railway industry external finance limit for this year will be £1,560 million, made up as follows:
827W
£millon OPRAF and MRG grants 2,009 British Rail EFL -310 Railtrack EFL -316 EPS EFL 177 Total EFL 1,560 In setting the overall industry EFL and those for the individual businesses, we have taken account of BR's needs for additional resources—£64 million—as a result of working capital movements which have an unfavourable impact on BR. A number of further factors have also been taken into account. These include the final apportionment, between BR and Railtrack, of the costs of the signalling dispute. The EFLs also reflect the latest forecast of the BR—Railtrack trading account; and they include upward adjustment of £87 million to grant paid by the franchising director. This adjustment to grant comprises claims submitted by BR and accepted by the franchising director to the value of £52 million, and a £35 million grant payment to BR carried over from 1993–94. There is also a £2 million downward adjustment to the total of metropolitan railway grants.