I note my hon. Friend's reply, but I suggest to him that such a scheme would be a source of revenue for the Treasury and would be much easier to introduce than some of the other Department of Transport schemes for privatisation. Will my hon. Friend bear in mind the strong recommendation of most members of the Select Committee on Transport on the subject?
I have listened carefully to what my hon. Friend has said. He was a member of that Select Committee, the report of which we are considering carefully. We have made no final decisions. There are several options which range from outright sale to extending franchising and to securing private capital for new development.