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Railways: Channel Tunnel

Volume 696: debated on Wednesday 5 December 2007

asked Her Majesty's Government:

How the public interest and United Kingdom taxpayers will benefit from any sale to private equity buyers of High Speed 1 rail services. [HL421]

We believe the best way of delivering continuing value for money from High Speed 1 is through an open, transparent, competitive process.

This was explained by the then Secretary of State for Transport when he informed Parliament in a Written Ministerial Statement of 30 March 2006 (Official Report, col. 111WS), and the Parliamentary Under-Secretary of State for Transport (the honourable Member for Glasgow South), during the Second Reading of the Channel Tunnel Rail Link (Supplementary Provisions) Bill on 20 November 2007.

The Government will not speculate on valuation or who might choose to bid. However, they expect that process to maximise and deliver significant receipts, benefiting the public interest and United Kingdom taxpayers.