§ Mr. ReedTo ask the Secretary of State for the Environment, Transport and the Regions what steps he is taking to investigate the profits levels of train rolling stock leasing companies. [31008]
§ Ms Glenda JacksonMy right hon. Friend the Deputy Prime Minister announced on 21 January that he had asked the Rail Regulator to conduct an urgent and 227W wide-ranging inquiry into the operation of the rolling stock market. The Regulator has been asked specifically to examine the scope for the rolling stock companies to abuse their market power either through excessive pricing, through inadequate investment in new or refurbished rolling stock or more generally through their response to the requirements of train operators to secure improvements in performance. The Regulator has been asked to report by the middle of April. The Government will then consider, in the light of the Regulator's recommendations, whether further action should be taken.