British Railways (Financial Assistance)

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

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

I am sorry to repeat it, but the hon. Gentleman totally misunderstands the position. The figure of £140 million is not a direct burden on the taxpayer. It is recognition of a loss-making capacity which was totally unrealistic, and if this debt were not written off the railways could never have got out of the position in which they have been for so long.