HC Deb 30 January 1996 vol 270 cc622-4W
Mr. Bayley

To ask the Secretary of State for Transport, pursuant to his answer of 9 January,Official Report, column 32, about British Rail businesses which have been sold, whether he will give in respect of each business (a) the number of people employed by the business at the time of its sale, (b) the number of employees of the business made redundant by british Rail between 1 January 1993 and the date of its sale, (c) the cost to British Rail of these redundancy payments, (d) the name and address of the businesses' new owner and (e) the sum of money paid by the new owner to acquire the business; and what has been the total sum received to date from the sale of British Rail assets and rail franchises since the Railways Act 1993 received Royal Assent, listing all assets and franchises sold which did not appear in the answer. [11736]

Mr. Watts

In relation to the three franchises which have been awarded, the details requested in parts(a) to (c) of the question are matters for the British Railways Board. The details requested in part (d) are: the Great Western Trains franchise was awarded to Great Western Holdings Ltd., Milford house, Milford street, Swindon, SN1 1DW; the LTS Rail franchise was awarded to Enterprise Rail of Central house, Clifftown road, Southend-on-Sea, SS1 1AB; and the South West Trains franchise was awarded to Stagecoach Holdings plc of Charlotte house, 20 Charlotte street, Perth, PH1 5LL.

In relation to the sales of BR businesses, the details requested in parts (a) to (d) are matters for the British Railways Board.

In relation to the sales of the three rolling stock leasing companies, the details requested in parts (b) and (c) are for the British Railways Board. The details requested in parts (a) and (d) are: Angel Train Leasing Ltd. Fifty-five staff were employed at the time of sale. The address of the registered office is Mitre house, 160 Aldersgate street, London, EC1A 4DD; Eversholt Leasing Ltd. Sale due to be completed shortly: Fifty-eight staff currently employed. The address is 9th floor, 1 Eversholt street, London NW1 1DN; Porterbrook Leasing Ltd. Forty-seven staff were employed at the time of sale. The address is Burdett house, Beckett street, Derby, DE1 1JP.

In relation to the figures requested in part (e) and the final part of the question: the first three franchises were awarded as contracts to run services in return for the payment of grant and will not generate receipts for the Government; gross proceeds from the sales to date of other BR businesses amount to some £266 million. There have been no further sales of such businesses since 9 January. As explained in the Government's response of 14 December 1995 to the Transport Committee's fourth report, on railway finances, it would be contrary to the commercial interests of British Rail and the Government to publish details of individual sales at this stage, as that may prejudice similar sales still in progress. Details of individual sales completed by BR will be made public in due course.

The sale of the three rolling stock leasing companies have generated, or will generate on completion, receipts as follows: Angel Train Leasing Ltd., sale completed 17 January 1996—£696 million; Eversholt Leasing Ltd., sale due to be completed shortly—£580 million, including £80 million deferred and contingent; and Porterbrook Leasing Ltd., sale completed 8 January 1996—£572 million.

The proceeds of the sales to date amount to some £2,114 million.