PARLIAMENTARY EARLY DAY MOTION
RAILTRACK (No.2) (7 November 2001)
Motion Details
That this House regrets the decision made by the Secretary of State for Transport, Local Government and the Regions to put Railtrack plc into administration; notes his statement that this action was taken because of his belief that refusal to grant financial assistance would render Railtrack insolvent; observes that Railtrack's accounts at 31st March included over ú2 billion of undrawn committed bank facilities as well as an unspecified amount of property assets; further regrets the recent discrepancies between statements made by the Secretary of State and the Chairman of Railtrack over the content of discussions at their meeting on 25th July; welcomes the decision of the Chairman of Railtrack to hand over his minutes of that meeting to the Financial Services Authority; and calls upon the Secretary of State both to end the confusion by publishing his minutes of that meeting and to launch a full and independent public inquiry so as to remove any doubts about the basis upon which recent decisions on the railway were made.
Sponsored by:
Baroness May of Maidenhead (Conservative)
EDMS Sponsor By Party
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