§ Mrs. DunwoodyTo ask the Secretary of State for the Environment, Transport and the Regions what arrangements he has made for the Exchequer to share in revenue generated by the Railtrack/Virgin scheme for the modernisation of the west coast main line railway. [12877]
§ Ms Glenda JacksonThe franchise agreement with Virgin Trains requires Virgin to introduce significantly accelerated and enhanced services following the upgrade of the west coast main line. The franchise was let through the competitive tender process and the winning bid from Virgin commits them to turn a subsidy of £76.8 million in 1997–98 to a premium payment of £220.3 million in 2011–12. There are no arrangements for the Exchequer to share in revenues.