Peer congratulates NBC on job well done
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THE NATIONAL Bus Company was tulated for its work by a Governme The Company was being particularly successful at adapting to the effects of recession, declared Lord Bellwin, an Under-Secretary for the Environment. It had made considerable progress in containing costs.
He understood that in 1981 the Company achieved its performance aim of reducing real operating costs per vehicle mile by no less than three per cent, and that had not been to do with worsening a service in any way at all.
Lord Bellwin was speaking during an Upper House discussion of the Transport (Finance) both complimented and congrant spokesman lastmeek.
Bill which, among other things, increases the borrowing limit of the NBC from £220 million to £250m with a power for a further increase, by order, to £275m.
He noted that the Company's present plans, and the rigorous financial target set by the Government, did not suggest an extension of current levels of borrowing in the foreseeable future, but said that it was none the less prudent to provide an adequate margin for contingencies.
In real terms, said Lord Bellwin, the new limit was significantly lower than the value of the present £200m, when it was set back in 1975.
For the Opposition, Lord Underhill noted the Transport Bill now before the Commons, and said that the Secretary of State had made it absolutely clear that one of the aims was to hive off the NBC's successful national express coach service.
The Bill was given an unopposed second reading.