HC Deb 13 March 2002 vol 381 cc1084-5W
Lynne Jones

To ask the Secretary of State for Transport, Local Government and the Regions on what basis he expects the successor body to Railtrack to raise funds on commercial markets. [41950]

Mr. Jamieson

Railtrack's successor needs to be financially sound with a strong investment grade credit rating sufficient to finance the required expenditure efficiently. It is for bidders for Railtrack to propose to the Administrator how they will raise funds in commercial markets.

Mrs. May

To ask the Secretary of State for Transport, Local Government and the Regions if the successor company to Railtrack in administration will be in the private sector. [42816]

Mr. Byers

[holding answer 12 March 2002]: It is for the Administrator to consider all proposals for the transfer of Railtrack plc's property rights and liabilities put to him, and for me to approve any transfer scheme put to me by the Administrator under Schedule 7 of the Railways Act 1993.