Mersey Tunnels Bill (By Order)

Part of the debate – in the House of Commons at 8:38 pm on 9 July 2002.

Alert me about debates like this

Photo of Ben Chapman Ben Chapman Labour, Wirral South 8:38, 9 July 2002

Absolutely. If my hon. Friend permits me, I shall come to that in a moment.

The use of borrowing to finance the £116 million operating losses incurred between 1968 and 1992 added to the original inherited debt. From my time as Department of Trade and Industry director on Merseyside, I recall that the debt was contributed to by shenanigans during the Militant years, but I have been unable to do the research to confirm or deny that proposition, which may be apocryphal. That was my understanding at the time, but it may not be correct.