British Railways (Financial Assistance)

Part of Oral Answers to Questions — Railways – in the House of Commons at 12:00 am on 24th July 1968.

Alert me about debates like this

Photo of Mr Richard Marsh Mr Richard Marsh , Greenwich 12:00 am, 24th July 1968

No, Sir. With the greatest respect, the hon. Gentleman misunderstands the position. The figure of £140 million is not a direct subsidy from the taxpayer. It is a capital write-off which recognises that past investment has been unremunerative. The losses were made at the time of the investment.