Oral Answers to Questions

Andy McDonald Excerpts

Thursday 19th April 2018 Commons Chamber

[Andy McDonald (Middlesbrough) (Lab)]

The Secretary of State is supporting the sale of Network Rail’s property assets. The Federation of Small Businesses says that this will put small companies out of business because the new private owner will rapidly rack up rents, which will restrict key developments in places such as Chesterfield. Does he not see that the sell-off will lose the railway valuable and vitally important income?

[Mr Speaker]

Minister.

--- Later in debate ---

[Mr Speaker]

Let us hear it again.

[Andy McDonald]

The Secretary of State is supporting the sale of Network Rail’s property assets. The Federation of Small Businesses says that this will put small companies out of business because the new private owner will rapidly rack up rents, which will restrict key developments in places such as Chesterfield. Does he not see that the sell-off will lose the railway valuable and vitally important income?

[Ms Ghani]

I thank the hon. Gentleman for repeating himself. The Secretary of State met the FSB yesterday and discussions on negotiations are ongoing.

[Andy McDonald]

In 2015, the DFT accepted Sir Peter Hendy’s plan to sell £1.8 billion of Network Rail property. These assets are now worth only £1 billion but generate £90 million of revenue each year. How can the Secretary of State still argue that this sell-off of the family silver makes sense? Is it not clear that his plan will cost Network Rail and British taxpayers dearly?

[Ms Ghani]

The Secretary of State will continue to realise assets when he can. We will then reinvest them in the railway network.