§ Chris GraylingTo ask the Secretary of State for Transport, Local Government and the Regions if he will make a statement on how and when the proposed extension of trains and platforms on suburban lines into Waterloo will be financed. [12749]
§ Mr. JamiesonInvestment in new trains for the Waterloo suburban lines is being made by Angel Trains under a £1 billion deal, announced on 24 April 2001, between the company, Stagecoach Holdings plc and Siemens. It will be recovered through leasing charges paid by the train operator, South West Trains, which will be in receipt of franchise payments from the Strategic Rail Authority. No agreement has yet been reached with Railtrack or with other private investors on the financing of station improvements, including platform extensions, but the investment is similarly likely to be recovered through access charges paid by the train operator.