HC Deb 13 February 2002 vol 380 cc390-1W
Chris Grayling

To ask the Secretary of State for Transport, Local Government and the Regions whether he has received a response from the European Commission on the Railtrack State Aid application; and if he will make a statement. [35799]

Mr. Jamieson

The European Commission announced on 13 February that State Aid clearance has been given for Government to make loans or to guarantee commercial loans made to Railtrack plc in administration.

The Government intend to notify Railtrack plc that it should use reasonable endeavours to secure commercial banking facilities, guaranteed by the Secretary of State, to refinance the outstanding advances made under the loan facility, together with interest, thereby removing the direct call on taxpayers' money.