East Coast Railway Line

House of Lords written question – answered on 9th December 2014.

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Photo of Lord Beecham Lord Beecham Shadow Spokesperson (Communities and Local Government), Shadow Spokesperson (Justice)

To ask Her Majesty’s Government what is their estimate of the annual profits to be made by the successful bidders for the East Coast rail franchise.

Photo of Baroness Kramer Baroness Kramer Minister of State (Department for Transport)

The level of profit bid by Inter City Railways Limited is commercially sensitive. It is not guaranteed and is commensurate with the risks associated with a franchise of this size and nature. The Government has put in place a profit cap and profit sharing mechanism to prevent any possibility of “over-compensation”.

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