11.T.C. TO BORROW MORE
5th December 1958, Page 45
5th December 1958
Page 45
Page 45, 5th December 1958
— 11.T.C. TO BORROW MORE
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A BILL presented to the House of ft Commons on Tuesday increases the British Transport Commission's maximum borrowing powers from £600m. to £1,200m.
It also allows the Commission to borrow up to £400m., instead of the present £250m., to meet losses on British Railways. The advance of. £250m. is expected to be exhausted by the end of next year. A loss of £85m. on the railways this year isforecast. The cumulative loss will then be £203m.
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