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Government honours cash pledge
4th February 1972, Page 29
4th February 1972
Page 29
Page 29, 4th February 1972
— Government honours cash pledge
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• The Government's Transport (Grants) Bill, to re-imburse the National Bus Company and British Railways for the costs of complying with the CBI initiative on price restraint will go before the Commons for Second Reading on Monday (February 7).
British Railways will receive £27m and the NBC £7m, the grants to be paid before the end of this year at the discretion of Mr John Peyton, Minister for Transport Industries.
The extra cash honours a pledge by Mr Peyton to ensure that the two organizations would not suffer financially by adhering to the CBI's 5 per cent ceiling. They warned the Government that if they held fares and charges to this level they would be unable to meet their statutory obligations.