51 - T1 road
Page 13
If you've noticed an error in this article please click here to report it so we can fix it.
in rail switch
THE Government has taken another step to encourage the transfer of more freight from road to rail. In a written reply to a Parliamentary question, Mr Fred Mulley, Minister for Transport, has announced that applications for the Rail Freight Facilities Grant can now be accepted for projects initiated after July 31, 1974.
The grant will cover half the costs of facilities; and the balance will qualify as capital allowances for corporation tax. This could mean that a company paying corporation tax might need only to meet 24 per cent of the cost of providing its rail freight facilities. Grants will be considered where it can be shown that the road to rail switch would be in the interests of any locality or its inhabitants. Applicants will be expected to discuss their proposals in the first instance with British Rail of Freightliners Ltd.
The estimate of the cost involved — made when the Railways Bill was introduced last year — was that expenditure might amount to about L'5m a year. But the Minister said during the committee stage of the Bill that he hoped response would be such that this estimate would be exceeded.