§ Mr. OttawayTo ask the Secretary of State for the Environment, Transport and the Regions if he will list the guarantees which(a) the Government and (b) LCR have given to Railtrack for the construction of the Channel Tunnel Rail Link. [45624]
§ Ms Glenda JacksonThe Government have not given to Railtrack any direct guarantees in relation to the construction of the Channel Tunnel Rail Link. As my right hon. Friend the Deputy Prime Minister explained in his statement to the House on 3 June 1998,Official Report, columns 367–70, the Government have agreed to assist the capacity of Eurostar (UK) Ltd. to meet its commitments, including to Railtrack; this support is forecast to amount to not more than £140 million, none of which would fall due before 2010, and which would be more than offset by the Government's 35 per cent. share in LCR pretax cashflow after 2020.
LCR has agreed to give Railtrack an exclusive option to commit to purchase the second phase of construction provided that option is exercised no later than 1 July 2003.