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British Rail (External Financing Limit)

Volume 13: debated on Friday 27 November 1981

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asked the Secretary of State for Transport what will be the effect on the external financing limit for British Railways in the current year of the additional £110 million passenger support announced on 24 November.

As I said in reply to the right hon. Member for Barrow-in-Furness (Mr. Booth) on 25 November, the increase in grant that I announced on 24 November was for the calendar year 1981 and in recognition on loss of passenger revenue. I am considering urgently the board's request for an adjustment of their external financing limit for 1981–82 in the light of the factors that have required a change in the grant for 1981.—[Vol. 13, c. 884–5.]