Railtrack (Hansard, 22 November 2001)

§ Mr. Pickles
To ask the Secretary of State for Transport, Local Government and the Regions what is the(a) procedure and (b) timetable for consideration of the bids for Railtrack; and what is the cut-off date for bids to be considered. [15802]

§ Mr. Spellar
These are matters for the Administrator to determine.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions what financial guarantees the Administrator of Railtrack plc has sought from the Government concerning new investment projects. [16366]

§ Mr. Spellar
The Government's Loan Agreement with the Administrator, copies of which have been placed in the House Library, means that Government will provide sufficient funding to continue on a 'business as usual' basis—including investment expenditure decisions—during the administration period.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions if he will make a statement on(a) voluntary and (b) compulsory redundancies planned by Railtrack in administration. [16361]

§ Mr. Spellar
There are no plans for redundancies as a result of Administration.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions how much of the financial guarantee to Railtrack in administration represents cash spent; and how much remains as a facility to draw down. [16379]

§ Mr. Spellar
The £800 million loan instalment has been fully drawn down. It represents part of the loan agreement entered into with the Administrator—copies of which have been placed in the House Library—in order to enable Railtrack plc (in administration) to continue trading and to repay financial creditors as they become due. The loan is to be repaid either as or before Railtrack plc moves out of administration.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions if he will list the investment projects over £5 million in value awaiting decision by the administrator of Railtrack plc. [16357]

§ Mr. Spellar
All planned investment projects by Railtrack were outlined in its Network Management Statement published in May 2001. Government have committed to provide the Administrator with access to 391W sufficient funding to continue on a 'business as usual' basis—including investment expenditure decisions—during the administration period.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions how many separate rail investment projects are awaiting decision by the administrator of Railtrack; and what their combined value is. [16358]

§ Mr. Spellar
All planned investment projects by Railtrack were outlined in its Network Management Statement published in May 2001.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions which(a) creditors and (b) contractors of Railtrack plc have approached the Government for (i) letters of comfort and (ii) guidance concerning payments for work done for Railtrack. [16367]

§ Mr. Spellar
No. For the Government's intentions with regard to creditors I refer the right hon. Member to the reply given to him by my right hon. Friend, the Secretary of State, on 31 October 2001,Official Report, column 671W.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions what his estimate is of the time Railtrack plc will stay in administration. [16380]

§ Mr. Spellar
This is a matter for the Administrator.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions which investment projects have been approved by the administrator since taking over Railtrack plc. [16365]

§ Mr. Spellar
This is a matter for the Administrator. Government have committed to provide the Administrator with access to sufficient funding to continue on a 'business as usual' basis—including investment expenditure decisions—during the administration period.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions when bids will close for the(a) assets and (b) liabilities of Railtrack plc in administration. [16370]

§ Mr. Spellar
This is a matter for the Administrator.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions what action he has taken with respect to the plan to cut costs at Railtrack plc drawn up by the board before the company was put into administration. [16371]

§ Mr. Spellar
The running of the company during administration is a matter for the Administrator.

§ Mr. Redwood
To ask the Secretary of State for Transport, Local Government and the Regions what the forecast is of the investment expenditure of Railtrack in administration and its successor for(a) the period from being placed in administration to 31 March 2002 and (b) the 2002–03 financial year. [16362]

§ Mr. Spellar
While Railtrack plc is in railway administration, the day-to-day expenditure decisions are a matter for the Administrator. The Government's Loan Agreement with the Administrator, copies of which have been placed in the House Library, means that Government392W will provide sufficient funding to continue on a 'business as usual' basis during the administration period. Investment decisions in future years will be a matter for the successor company to Railtrack plc.