§ Mr. ChidgeyTo ask the Secretary of State for Transport what is the latest estimate of the outturn of the British Railways Board for the year 1996–97; what was the original budget; what is his latest estimate of expenditure in subsequent years; and what plans he has to finance any budgetary shortfall. [4152]
§ Mr. WattsBritish Rail's budget for 1996–97 is currently under review in the light of the faster-than-expected progress made with privatisation. Estimates of expenditure in subsequent years, and plans to finance any budgetary shortfall, will be announced after the Chancellor's Budget statement on 26 November 1996.
§ Mr. ChidgeyTo ask the Secretary of State for Transport what loans were made to the British Railways Board in the years 1990–91, 1991–92, 1992–93 and 1993–94; and how the expenditure funded by these loans was divided between domestic railway services and expenditure in connection with channel tunnel services. [4148]
§ Mr. WattsLong-term loans from the national loans fund were made to the board as set out;
- 1990–91: Nil
- 1991–92: £850 million
- 1992–93: £950 million
- 1993–94: £625 million.
No long-term loans were obtained by the board in those years other than from the NLF. Such loans are not hypothecated to specific investment but are provided to finance the borrower's overall capital requirements, which included substantial investment related to channel tunnel services in that period.