Transport written question – answered at on 1 November 2011.
To ask the Secretary of State for Transport how much debt was owed on the Humber Bridge (a) on the most recent date for which figures are available and (b) in 1995; what the rate of interest was in each case; whether any part of the debt was not interest-bearing in each case; and when she expects the debt to be paid off.
On
In 1995-96, the total debt owed was £435,307,192, which comprised 18 different loans from the Public Works Loans Board (PWLB) totalling £76,000,000 and 23 different loans from the then Department of Transport (DoT) totalling £359,307,192.
The average interest rate on the PWLB loans was 9.52% and on the DoT loans 11.62%. Of the £48,975,278 interest owing in 1995-96, £10,078,000 was paid by the Humber Bridge Board and £38,897,285 was paid by the Department of Transport as grant.
The debt is expected to be paid off in 2033-34.
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