British Waterways Board (Hansard, 2 March 1999)

§ Mr. Meacher

My right hon. Friend the Deputy Prime Minister announced on 18 February the Government's decision on the future status and direction for British Waterways. The full package of measures is set out in the booklet "Unlocking the Potential …A New Future for British Waterways", copies of which have been placed in the Library of the House. The key elements of the package areBritish Waterways will remain in the public sector as a public corporation, charged with the stewardship of an important national asset; 621W Improved funding. An extra £8 million per annum, to enable British Waterways to eliminate the serious maintenance backlog over a timescale of seven years and subject to the achievement of challenging performance targets; Phasing out debt and increased flexibility in cash flow management. British Waterways will be relieved of the burden of refinancing old loans as they mature and will benefit from new financial flexibility at the end of each financial year. Three proposed partnerships with the private sector (property, water transfer and maintenance), which are currently being worked up with the Treasury Private Finance Taskforce; Partnerships with the public sector. British Waterways will build on and broaden its partnerships with local authorities and other public sector organisations, including the new Regional Development Agencies; A membership scheme: to get British Waterways closer to all people who use its waterways. There are a number of options for a membership scheme and these will be the subject of a consultation exercise by British Waterways. The consultation will include the suggestion that a seat on the British Waterways Board might eventually be offered to the membership; A Framework Document setting new objectives for British Waterways, clarifying its relationship with the Department, and confirming British Waterways' contribution to sustainable development and to Government policies on transport (including freight), regeneration, heritage, conservation and leisure; and Improved openness and accountability. British Waterways will build on last year's publication of a forward plan at a public meeting by publishing more detailed information about its activities and plans.

I have also placed in the Library copies of the Framework Document and a paper setting out the facts and analysis relevant to the Government's announcement.

The package demonstrates the Government's commitment to a successful future for British Waterways. The additional investment, together with the public and private partnerships, offer exciting opportunities for British Waterways to unlock the potential, modernise its network and provide a system of historic waterways worthy of the new millennium.