HC Deb 09 July 2002 vol 388 cc812-3W
Mr. Hoban

To ask the Secretary of State for Transport if the financial statement for Network Rail will be consolidated in those for the Strategic Rail Authority. [67791]

Mr. Jamieson

[holding answer 8 July 2002]: The Comptroller and Auditor General, in his capacity as statutory auditor of the Strategic Rail Authority (SRA), has concluded that Network Rail should be accounted for as a subsidiary of the SRA. This means that the financial accounts of Network Rail will be consolidated on a transparent and open basis within the balance sheet of the SRA.

Chris Grayling

To ask the Secretary of State for Transport what the total liabilities on the balance sheet of the SRA will be if it underwrites the proposed finance for Network Rail; if he will list the liabilities on the SRA balance sheet; what the total value of assets held by the SRA is; and which SRA assets banks whose loans to Network Rail are underwritten by the SRA will hold charges against. [66054]

Mr. Jamieson

I refer the hon. Member to the statement made by my right hon. Friend the Secretary of State on 27 June 2002,Official Report, columns 971–973. The assets of the SRA were outlined in its 2000–01 annual report and will be updated in its 2001–02 annual report to be published shortly.

Chris Grayling

To ask the Secretary of State for Transport what the legal status will be of the operating subsidiary of Network Rail, as described in the Minute to Parliament. [67166]

Mr. Jamieson

This is a matter for Network Rail.