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British Railway Board: Finance

Volume 472: debated on Thursday 21 February 2008

To ask the Secretary of State for Transport what the annual budget of BRB (Residuary) Ltd. was for each year since 1997; and what functions it discharges. (180259)

BRB (Residuary) Ltd. (BRBR) was formally created in February 2001 when the assets and liabilities of the British Railways Board (BRB) were transferred to the Strategic Rail Authority. Prior to 2001, the functions of BRBR were discharged by BRB and details of the budget and financial results during this period can be found in BRB’s historic accounts. Between 2001 and 2005 BRBR was a subsidiary of the Strategic Rail Authority (SRA) and details of its income and expenditure budget are published in the SRA’s annual report and accounts, copies of which are in the Library of the House.

In October 2005, ownership of BRBR formally transferred from the SRA to the Secretary of State pursuant to a Transfer Scheme under the 2005 Railways Act. The latest results for the company which include its budget are available on BRBR’s website at:

The function of the company is to manage and discharge the residual rights and liabilities of BRB. Full details are available on BRBR’s website.