§ Mr. Gordon PrenticeTo ask the Secretary of State for the Environment, Transport and the Regions what conditions attach to the most recent tranche of public finance made over to Railtrack; and if he will make a statement. [158302]
§ Mr. HillThe agreement in principle to the re-phasing of grants to Railtrack announced on 2 April 2001,Official Report, columns 8–9W, was subject to a number of conditions. The main points were enshrined in an agreed general Statement of Principles, copies of which have been placed in the House Library.
460W
§ Ms Beverley HughesThe principal funding which this Department has provided to Lancashire county council and Ribble Valley district council in 1997–98 to 2000–01 is shown in the table. This includes grants and borrowings approvals for revenue and capital expenditure.
It is not possible to determine how much money has been spent on the Ribble Valley. It is for the local authorities to decide where within their boundaries these resources are applied.
In addition to delivering long-term savings to the taxpayer, this agreement provides the basis for a new relationship between the company and Government, including a commitment from Railtrack in consultation with Government to appoint a non-executive director to its main Board with a remit to provide a powerful public and consumer voice. The Statement of Principles also sets out a new competitive framework for procuring large enhancement projects. This will allow third party finance and project delivery skills to be deployed through public private partnerships to deliver enhancement projects, enabling the company to give more attention to the management of the core rail network.