Single European Market

Part of Oral Answers to Questions — Transport – in the House of Commons at 12:00 am on 23rd November 1992.

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Photo of Mr John MacGregor Mr John MacGregor Chair, Privileges Committee, The Secretary of State for Transport, Chair, Privileges Committee 12:00 am, 23rd November 1992

My hon. Friend must know that we are expecting British Rail to have record levels of capital investment this year and for the next three years. They will be well above the levels of the 1970s and 1980s. In real terms, they will be at twice the level of those for most years. There is a substantial investment programme in British Rail, including one for the channel tunnel, but funds cannot be unlimited. We must have a mind to other spending claims as well as a mind to the overall level of Government spending. The fact that capital investment is at record levels shows the priority that we are giving to British Rail.