§ Mr. TimmsTo ask the Secretary of State for the Environment, Transport and the Regions, pursuant to his oral statement of 28 January 1998,Official Report, columns 461–74, what response he has had from London and Continental Railways in respect of revised financing proposals for the Channel Tunnel Rail Link. [32207]
§ Mr. PrescottI have held discussions with Bechtel, representing the shareholders of London & Continental Railways, and Railtrack, for whom the shareholders envisage a future role. These discussions have resulted in a framework proposal, but one which still needs to be further developed. London & Continental Railways have consequently asked for more time. In light of the complex nature of the framework proposals, and the amount of further work that needs to be done, I have decided that time should be allowed to establish whether there is an acceptable way forward; an extension to 31 March 1998 has therefore been authorised.