HC Deb 18 March 2002 vol 382 cc17-8W
Chris Grayling

To ask the Secretary of State for Transport, Local Government and the Regions if he will make a statement on the level of Government guarantees being provided to Metronet and Tube Lines for debt raised to fund investment in the underground. [36317]

Mr. Jamieson

I refer the hon. Member to the reply I gave to the hon. Member for Truro and St. Austell (Matthew Taylor) on Monday 25 February 2002,Official Report, column 786W. No Government guarantee is being issued to Metronet and Tube Lines in respect of the debt they are raising to fund investment.

Mr. Pickles

To ask the Secretary of State for Transport, Local Government and the Regions (1) for what percentage of the debt on the moneys borrowed under the PPP for the London Underground he is prepared to offer a letter of comfort; [37212]

(2) if he will ask Ernst and Young to consider what effects a letter of comfort guaranteeing 95 per cent. of the debt on the PPP for the London Underground would have on their value for money report; [37211]

(3) if he will publish the letter of comfort written to the bidder under the PPP for the London Underground. [37213]

Mr. Jamieson

I refer the hon. Member to the reply given to the hon. Member for Truro and St. Austell (Matthew Taylor) on Monday 25 February 2002,Official Report, column 786W. Ernst and Young were aware of the terms of the proposed letter when they produced their value for money report.