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British Waterways

Absolutely. I agree entirely with my hon. Friend that it would represent a very short-term gain and a very long-term loss and problem for our waterways. Against the possible contribution to paying off the national debt, we must balance the potential losses of such a move, which would be devastating. Lost to us all would be all the public benefits that the Government have hitherto recognised, such as urban and rural regeneration, health and social developments and an expanding leisure facility. We would also lose the £750 million of taxpayers' money invested over the past 10 years, effectively cashing in our public asset—it is the equivalent of selling off a national park.