Written question asked by Nigel Spearing (Labour), in the House of Commons. It was due for an answer on Monday, 3 March 1997. It was answered by John Bowis (Conservative) on Monday, 3 March 1997 on behalf of the Department of Transport.

Dept of Transport

Question: Pursuant to his oral Answer to the honourable Member for Newham North West of 25th February, Official Report, column 157, what factors underlay his statement that operating surpluses on London Underground would grow substantially; and what sums he expects to be available for capital investment in the years 2000 to 2005.

Answer: Mr. Spearing: To ask the Secretary of State for Transport, pursuant to his oral answer to the hon. Member for Newham, North-West (Mr. Banks) of 25 February, Official Report, column 157, what factors underlay his statement that operating surpluses on London Underground would grow substantially; and what sums he expects to be available for capital investment in the years 2000 to 2005. [18345] Mr. Bowis: My right hon. Friend's comments were based on London Underground's own forecasts of substantial growth in operating surpluses. Following privatisation, investment will be funded not only from these surpluses and continued Government support, but also from the recycling of privatisation proceeds and funds raised by the private sector. It is premature to speculate on the precise sums involved, but our overall aim is to modernise the underground's infrastructure within five years of privatisation.

Secondary information