HC Deb 16 November 2001 vol 374 cc898-900W
Chris Grayling

To ask the Secretary of State for Transport, Local Government and the Regions if he will make a statement on Government representation on the board of the successor company to Railtrack. [12149]

Mr. Jamieson

It will be for the Railway Administrator to put a proposal to the Secretary of State for a scheme to transfer the network operator out of administration. We have indicated that we will be making a proposal for a company limited by guarantee to take over Railtrack's role, but the Secretary of State will consider any proposal put to him by the administrator to transfer the railway assets out of administration as a going concern. The composition of the board of Railtrack's successor will therefore depend on the eventual scheme put to us by the administrator.

Mr. Hoban

To ask the Secretary of State for Transport, Local Government and the Regions, pursuant to his oral answer of 23 October 2001,Official Report, column 195, on documents relating to the Railway Administration Order of 7 October, if he will make a statement about the level of the proposed payments to Railtrack under the RenewCo scheme. [11800]

Mr. Jamieson

[holding answer 1 November 2001]: No structure could be found for a RenewCo vehicle that successfully met all of the conditions set out in the 2 April agreement between Government and Railtrack.

Chris Grayling

To ask the Secretary of State for Transport, Local Government and the Regions, pursuant to his answer of 1 November 2001,Official Report, column 781W, what advice the agencies gave officials about their requirements to give investment grade rating to the proposed successor to Railtrack. [14678]

Mr. Jamieson

Officials have discussed the Government's proposals for a company limited by guarantee (CLG) with credit rating agencies. Proposals for a CLG will be targeting a long term credit rating of A/A2 or higher, to reflect the financing capacity requirement of the rail infrastructure business.

Mr. Bercow

To ask the Secretary of State for Transport, Local Government and the Regions how many save as you earn schemes are held by employees of Railtrack. [14438]

Mr. Jamieson

My Department does not hold this information. It is a matter for the company.

Mr. Bercow

To ask the Secretary of State for Transport, Local Government and the Regions what estimate he has made of the impact on take-up of employee share ownership schemes resulting from the devaluation of employee share schemes held by employees of Railtrack. [14437]

Mr. Jamieson

It is for employees to consider the strength of their company when participating in employee share schemes.

Mrs. May

To ask the Secretary of State for Transport, Local Government and the Regions if he will place the notes of his meetings with(a) the Chairman of Railtrack on 25 July and (b) the Rail Regulator on 5 October, in the Library. [15499]

Mr. Byers

Details of internal communications are exempt from disclosure under section 2 of Part II of the code of practice on access to Government information.

Mrs. May

To ask the Secretary of State for Transport, Local Government and the Regions if he will place copies of his Department's correspondence with the Strategic Rail Authority regarding negotiations on the development of RenewCo and the payment of funds to Railtrack under(a) the resettlement procedure and (b) the arrangement for payment of network grant proposed by the Rail Regulator in October 2000 and agreed by Railtrack in January 2001, in the Library. [15500]

Mr. Byers

The criteria required RenewCo to be successfully established were stated in the 2 April agreement between Government and Railtrack.