§ Mr. David ShawTo ask the Secretary of State for Transport what is the latest estimate of the outturn provision for the railway industry for 1996–97. [6417]
§ Sir George YoungThe announcement of the public expenditure settlement for my Department, which I made today, included a forecast outturn of £1,760 million for Opraf passenger grant for 1996–97. For the railway industry as a whole, there have also been proceeds from the sale of businesses, which—other than those from the sale of Railtrack—have served to offset this grant. After taking account of the net revenues of the businesses sold, net forecast receipts for the railway industry are £980 million. Therefore, the latest forecast of financial provision for the railway industry in 1996–97 is £780 million—that is, Opraf grant of £1,760 million less net receipts of £980 million.