B.T.C. May Borrow £600m.
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BORROWING powers for up to £600m. by the British Transport Commission were approved by the House of Commons on Tuesday. The Minister of Transport said that this would increase the Commission's borrowing powers by £325m. The money was mainly related to capital expenditure which the B.T.C. would undertake in 1955-59. In addition, the Commission would draw on their own resources.
When railway modernization was completed, net goods-traffic earnings should rise by £60m. and passenger by £35m. Operating expenses in respect of the larger volume of traffic might increase by some £10m. and additional depreciation would be £15m.
Rail goods traffic would be greatly accelerated, with one-day transit to many places.
The B.T.C. would publish yearly forecasts of work to be undertaken in the coming 12 months and other less firm forecasts of work for the following year. The new charges scheme would probably be approved by the Transport Tribunal by the end of the year.
The Commission intended to invite tenders shortly for a large number of main-line Diesel locomotives.
L.T.E. TO CUT SERVICES BY 5%
MEW schedules designed to cut central
bus services by 5 per cent. between February and May will be introduced by the London Transport Executive next Wednesday.
Since 1951 there has been a fall of 9.3 per cent, in the number of passengers using motorbuses, and since 1950 one of 16.1 per cent, in passengers travelling by trolleybus. This decline was continuing, it was stated at a Press conference on Wednesday.
The object of the reduction in schedules is to bring bus services into line with present-day demand, and it is expected that the new schedules will operate with greater regularity, as gaps in existing services caused by staff shortages will be largely eliminated.
No reduction will be made on any route during peak periods,
BRISTOL TO END CHEAP FARES':
ANapplication to the Western Licensing Authority to abolish workmen's fares on Bristol city services is to be supported by Bristol City Council, it was decided on Tuesday.
If this is granted, an extra £129,000 a year will be earned, sufficient to avoid fares increases on other servicei. About 18 per cent. of the total number of passengers enjoy the present workmen's cheap daily return rates.
Trent Motor Traction Co., Ltd., Barton Transport, Ltd., Midland General Omnibus Co., Ltd., and East ) Midland Motor Services, Ltd., also announced on Tuesday that they had applied to increase fares.