Written question asked by Hugh Bayley (Labour), in the House of Commons. It was due for an answer on Tuesday, 4 June 1996. It was answered by John Watts (Conservative) on Tuesday, 4 June 1996 on behalf of the Department of Transport.

Dept of Transport

Question: Pursuant to 276 c150W, if he will make an announcement on the total costs of the Railtrack flotation including the amounts paid to consultants. - Includes figures.

Answer: Mr. Bayley: To ask the Secretary of State for Transport, pursuant to his answer of 24 April, Official Report, column 150, if he will make an announcement on the total costs of the Railtrack flotation including the amounts paid to consultants.[31260] Mr. Watts: The costs to the Government of the Railtrack share offer are estimated to be as follows: _________________________________________________________________________________________________. £ million Advisers fees and expenses 9.4 Marketing (including prospectus production and distribution) 4.9 Receiving bank and share shops 1.3 Overseas costs 2.1 Commissions 24.8 Total (UK and overseas offer) 42.5 _________________________________________________________________________________________________. These costs represent some 2.2 per cent. of the estimated total proceeds due from the sale of shares. The costs exclude stamp duty and VAT on services provided to the Government, which are not net costs to the Exchequer. There will be some further expenditure in respect of the instalment collection and the issue of bonus shares.

Secondary information