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London Regional Transport

Volume 173: debated on Thursday 24 May 1990

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To ask the Secretary of State for Transport (1) how much money the Government have provided in grants to London Buses Ltd. in each of the last five years and for what purposes, at current prices;(2) how much money the Government have provided in grants to London Underground Ltd. in each of the last five years, and for what purposes, at current prices.

The Government pay grant to London Regional Transport which is responsible for distributing it to its subsidiaries, including London Buses Ltd. and London Underground Ltd.The total grant for the last five years at 1989–90 prices has been as follows:

£ million
1985–86391
1986–87347
1987–88271
1988–89203
1989–90287
The purpose of the grant is to meet LRT's cash deficit; the Government do not pay specific grants to LRT for specific purposes. Over the last five years the proportion of the grant devoted to revenue subsidy has reduced while the proportion supporting capital investment has increased. The effect has been that LRT's investment has grown by 42 per cent. in real terms over the same period.