BusinessCompany NewsNational Rail will not escape debt obligations

National Rail will not escape debt obligations

Chief Treasury secretary Paul Boateng has denied that scrapping the Strategic Rail Authority will bring Network Rail's £2bn plus borrowings back onto the government's accounts.

Link: Bourn blamed for Network Rail confusion

Challenged by Mid Worcestershire Tory MP Peter Luff, who claimed the change would affect the status of NR’s borrowings, Boateng issued a statement in the Commons accepting that when it is wound up, SRA’s duties and financial obligations including those in support of NR’s borrowings, will transfer to the Department of Transport.

But he insisted in a written reply to a formal question from Luff: ‘This will not affect the classification of NR or its debt.’

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