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Channel Tunnel Rail Link

Mrs. May: To ask the Secretary of State for Transport what control the Government have over the sale of the CTRL to LCR; and if he will make a statement. [66501]

Mr. Jamieson [holding answer 2 July 2002]: The Government have no controls with which they could require the sale of Railtrack's interests in CTRL to London and Continental Railways (LCR) and Network Rail. They do have various controls over LCR's financing arrangements some of which are relevant to the sale.

Mrs. May: To ask the Secretary of State for Transport what percentage of section 1 of the CTRL is complete; on what date it is (a) due to be and (b) expected to be (i) completed and (ii) open; and what its expected final cost is. [66500]

Mr. Jamieson [holding answer 2 July 2002]: Section 1 is currently 87 per cent. complete. It is expected to be completed in September 2003, and should be ready and able to run Eurostar services in October 2003, which is within schedule.

It is expected to be completed within its £1.9 billion budget.

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Mrs. May: To ask the Secretary of State for Transport what the estimated value is of the Channel tunnel rail link owned by Railtrack. [66600]

Mr. Jamieson [holding answer 2 July 2002]: London and Continental Railways (LCR) and Network Rail have made a combined offer of £375 million for Railtrack's interests in the Channel tunnel rail link. This is the estimated value which has emerged from negotiations between the parties.

Network Rail

Mrs. May: To ask the Secretary of State for Transport what assessment he has made of the funding necessary to operate the railway network as a going concern; and if he will provide a breakdown. [64366]

Mr. Jamieson [holding answer 25 June 2002]: I refer the hon. Member to the Statement made to the House by my right hon. Friend the Secretary of State for Transport, on 27 June 2002 Official Report, column 971, about Network Rail.

Mrs. May: To ask the Secretary of State for Transport on what date he was notified by the Office of Fair Trading that the Network Rail proposal will not be referred to the Competition Commission. [66536]

Mr. Jamieson [holding answer 2 July 2002]: The Office of Fair Trading has yet to put its recommendation to the Secretary of State for Trade and Industry as to whether or not the Network Rail proposal should be referred to the Competition Commission.

Mrs. May: To ask the Secretary of State for Transport by what mechanism the board Network Rail will be held accountable to the members of Network Rail. [66541]

Mr. Jamieson [holding answer 2 July 2002]: Network Rail will be run on a commercial basis and members will have rights similar to shareholders. These include approving the appointment of directors and holding them to account, ensuring high standards of corporate governance, receiving regular reports on company performance and attending general meetings.

Mrs. May: To ask the Secretary of State for Transport what date the bridging loans for Network Rail will (a) commence and (b) are due for repayment. [66551]

Mr. Jamieson [holding answer 2 July 2002]: I refer the hon. Member to paragraph 13 of the Statutory Contingent Liability minute laid before Parliament on 27 June 2002.

Mrs. May: To ask the Secretary of State for Transport if he will list the budgeted level of funding available to Network Rail from the Government to cover future liabilities and unexpected expenditures. [66599]

Mr. Jamieson [holding answer 2 July 2002]: I refer the hon. Member to the statement made to the House by my right hon. Friend, the Secretary of State on 27 June 2002, Official Report, columns 971–73.

Mrs. May: To ask the Secretary of State for Transport if he will give the proposed modifications to the notes in connection with the Network Rail proposal; and if he will make a statement on the note holders passing a resolution to authorise the modification of the terms and conditions of the notes. [66538]

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Mr. Jamieson [holding answer 2 July 2002]: This is a matter for Network Rail.

Mrs. May: To ask the Secretary of State for Transport if he will give the proposed modifications to the bonds in connection with the Network Rail proposal; and if he will make a statement on each class of bondholder passing a resolution to authorise the modification of the terms and conditions of the bonds. [66537]

Mr. Jamieson [holding answer 2 July 2002]: These are matters for Network Rail.

Mrs. May: To ask the Secretary of State for Transport (1) if he will list the banks involved in the bridging finance for Network Rail; [66546]

Mr. Jamieson [holding answer 2 July 2002]: The banks providing bridging finance for Network Rail are listed in the annex to the draft comfort letter entitled "Network Rail Bridging Finance", which was presented to the House on 27 June with a minute detailing non-statutory contingent liabilities in support of Network Rail Ltd. Details of the bridge financing are a matter for Network Rail.

Mrs. May: To ask the Secretary of State for Transport if he will publish the organisation structure of Network Rail. [66548]

Mr. Jamieson [holding answer 2 July 2002]: This is a matter for Network Rail.

Mrs. May: To ask the Secretary of State for Transport what the status of railway safety will be under the Network Rail structure. [66640]

Mr. Jamieson [holding answer 3 July 2002]: Railway Safety would be acquired by Network Rail from Railtrack Group PLC. It is Network Rail's intention to hold Railway Safety as a separate subsidiary pending its replacement by the new rail industry safety body. The Rail Regulator is now consulting on the establishment of such a body.

Mrs. May: To ask the Secretary of State for Transport whether he will be publishing a revised version of (a) the SRA plan and (b) the 10-year plan to take into account the change from Railtrack to Network Rail. [66550]

Mr. Jamieson [holding answer 2 July 2002]: Our Directions and Guidance to the SRA require it to publish an updated Strategic Plan in January 2003. We are intending to publish a progress report on the 10-year plan in due course.

Mrs. May: To ask the Secretary of State for Transport if he will list the new (a) statutory powers and (b) other powers that he has over the management of the rail network under the Newtrack Rail arrangements. [66595]

Mr. Jamieson [holding answer 2 July 2002]: My right hon. Friend the Secretary of State will have no new statutory or other powers over the management of the rail network as a result of Network Rail's proposals.

Railtrack

Mrs. May: To ask the Secretary of State for Transport on what date he authorised the change in control of Railtrack; and if he will publish the authorisation. [66604]

4 Jul 2002 : Column 463W

Mr. Jamieson [holding answer 2 July 2002]: Network Rail has not yet asked my right hon. Friend the Secretary of State to authorise the change of control.

Mrs. May: To ask the Secretary of State for Transport what assurances have been given that the existing employment rights, including pension rights, of employees of Railtrack plc will be safeguarded by the sale of Railtrack plc to Network Rail. [66498]

Mr. Jamieson [holding answer 2 July 2002]: Network Rail has stated publicly that the existing terms and conditions, including pension rights, of Railtrack PLC employees will be safeguarded.

Mrs. May: To ask the Secretary of State for Transport if he will publish information required by Railtrack Group in order to enable it to identify whether adjusting post balance sheet events have occurred that would require amendments to the figures reported on 27 June by Railtrack Group. [66533]

Mr. Jamieson [holding answer 2 July 2002]: This is a matter for Railtrack Group and its auditors, taking account of the sale and purchase agreements entered into by Railtrack Group with Network Rail and with London and Continental Railways (LCR).

Mrs. May: To ask the Secretary of State for Transport whether Railtrack Group is required to purchase section one of the CTRL at its net cost. [66530]

Mr. Jamieson [holding answer 2 July 2002]: Railtrack Group is obliged to purchase section one of the CTRL at the actual out-turn construction cost including financing costs and net of Government grants received.

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