Railway Companies (Net Revenue).

Oral Answers to Questions — National Finance. – in the House of Commons on 3rd March 1942.

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Photo of Sir Frank Sanderson Sir Frank Sanderson , Ealing

asked the Chancellor of the Exchequer the total net revenue earned by the railway companies for the year ended 3ist December, 1941, in excess of the £43,000,000 which the railway companies retain; and how he proposes to deal with the surplus?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

Estimates of the results of the railway pool for the year 1941 are under examination, and a White Paper will be published. Any excess of net revenue over £43,000,000 will be paid into the Exchequer.

Photo of Sir Frank Sanderson Sir Frank Sanderson , Ealing

Will my right hon. Friend confirm that a very substantial profit has accrued to the Treasury? Has not the Treasury's profit taken precedence over approximately £80,000,000 of shareholders' capital which receives no return on the investment, and does he consider it to be in the national interest thereby to depreciate the country's greatest single asset?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

My hon. Friend had better await the White Paper.