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cam loan to help NBC

19th February 1971
Page 22
Page 22, 19th February 1971 — cam loan to help NBC
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Which of the following most accurately describes the problem?

• The National Bus Company is taking action to restore viability after adverse factors which led to an operating loss of not far short of film in 1970. And the Government has agreed to lend the company up to thm towards its capital expenditure this year, Mr John Peyton, Minister for Transport Industries, told the Commons in a written answer on Wednesday.

In 1970 NBC had faced the consequences of two large wage settlements, increased restrictions on drivers' hours, and local industrial action, as well as the long-term decline in passenger traffic, he said.

At his request NBC was pressing ahead with the necessary action to restore viability largely in 1971 and fully in 1972, in accordance with its statutory duty and to comply with the financial target laid down last year.


People: John Peyton

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