B.T.C. Expect £20m. Loss for 1954
7th January 1955, Page 47
7th January 1955
Page 47
Page 47, 7th January 1955
— B.T.C. Expect £20m. Loss for 1954
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THE British Transport Commission expect that before making provision for the enhanced cost of replacing assets, a loss of about £15m. will be shown on last year's working. The railway deficit, after contributing to central charges, is likely to be more than £20m.
The Commission's deficit for the current year is placed at about £25m.
Mr. W. P. Allen, the Commission's chief of establishments and staff, gave this information last Friday to the court of inquiry into railwaymen's wages. He thought that the possibility of covering the loss by increasing fares and charges was limited. There was a real danger that many of the Commission's services would be priced out of the market.