Cash and cuts for NBC
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SUPPORT CASH from local authorities for the National Bus Company for this year already amounts to £20m—nearly £12m more than last year and could go up by another £3m or so.
These figures were revealed by NBC chief executive Mr Jim Skyrme announcing the publication of the company's annual report this week (See News Extra page 25).
But even with this extra cash from the counties the NBC would have to shed about 3 per cent of its services and raise fares by "a small amount" to break even on operations in 1976.
NBC chairman Mr Freddie Wood drew attention to the company's obligation to provide socially necessary services. "If we make a profit while providing a very poor service and at the same time possibly creating severe redundancies we would not be fulfilling our obligations."
Mr Wood said the NBC wanted "to get off its back" its capital debt of £97m dating from 1969.
And he warned that if EEC drivers' hours were imposed on the NBC it would cost £40m a year. "I hesitate to suggest what would happen if this takes place."