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Channel Tunnel

Volume 885: debated on Tuesday 28 January 1975

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asked the Secretary of State for the Environment if he will indicate Her Majesty's Government's policy towards the proposals emanating from the European Investment Bank or the President of the European Parliament, which are aimed at the provision from European sources of financial guarantees, for the Channel Tunnel project.

carry either motorways or A class trunk roads, the charges levied for all types of vehicle and details of any concessionary arrangements for regular users prepared to purchase tickets in bulk.

Following is the information. Four bridges in England and one in Wales carry motorways or connect trunk roads—the Severn Bridge on M.4 and the Tamar, Dunham, Selby and Portmadoc Bridges. Their charges are as follows:

It was not shortage of loan funds which led the companies to claim abandonment and Ministers to conclude that the tunnel could not now proceed as a publicly financed project. The possibilities of limited loans from the European Investment Bank were explored earlier, but in the event the companies preferred to raise the Phase II funds elsewhere. We would naturally be glad to consider any proposals for substantial cost sharing, but none has so far been put to us.