No variation of THC objects
8th July 1966, Page 38
8th July 1966
Page 38
Page 38, 8th July 1966
— No variation of THC objects
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IT was suggested in the Commons last week by Mr. Alexander Lyon (Labour, York) that the Transport Minister should vary the objects of the Transport Holding Company so that its bus undertakings were no longer required to make a profit after it had provided for its costs and replacement of vehicles.
But his idea was rejected by Mr. John Morris, Parliamentary Secretary to the Ministry of Transport.
It would, he said, provide no lasting relief to fares and would be inconsistent with the normal requirement that nationalized industries should produce a reasonable return on their capital.