FACES BIG LOSS ON BRITISH RAILWAYS
LONDON, July 22. The Minister of Transpori, Mr. A. ' Earnes, informed the Kouse of Commons that the operations of the British railways this year are likely to involve a loss of £37,000,000, which would fall upon the Treasury. An estimate on a Similar basis for the1 next year, he said, indicated a deficiency of £28,000,000, tut did not t take into acconnt any additionl cost "which would he incurred should effect be given to the recent recommendation of a court of inquiry approving increased wages and shorter hours for railwaymen. During the war years, Mr. Barnes said, the Government collected £200,000,000 in profits from railway companies under an agreement which stipulated that the Government should carry the hurden of any losses and collect any profits over a certain amount. The railways showed a substantial profit return until 1946, when the deficit uilder the agreement was £11,300^000.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19470724.2.32
Bibliographic details
Chronicle (Levin), 24 July 1947, Page 5
Word Count
152FACES BIG LOSS ON BRITISH RAILWAYS Chronicle (Levin), 24 July 1947, Page 5
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in