Rail Franchising

Rehman Chishti Excerpts
Tuesday 26th March 2013

(11 years, 1 month ago)

Commons Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
Lord McLoughlin Portrait Mr McLoughlin
- Hansard - - - Excerpts

I know that Virgin is keen to continue with investments on that line and is happy to receive representations, both from my hon. Friend and from me, if good cases are made for investment that has a positive return.

Rehman Chishti Portrait Rehman Chishti (Gillingham and Rainham) (Con)
- Hansard - -

I thank the Secretary of State for his statement. May I also thank him for reducing train fares in the south-east by reducing the retail prices index plus 3% provision to RPI plus 1%? Under the previous Government, Southeastern had RPI plus 3% whereas the rest of the country had RPI plus 1%, and that was exceptionally unfair.

Lord McLoughlin Portrait Mr McLoughlin
- Hansard - - - Excerpts

I am grateful to my hon. Friend for that. The truth is that we are putting massive further investment into the railways. That has to be paid for by both the fare payer and the taxpayer, but it is right that we try to get that balance right. I am pleased that the Chancellor was able to take the increases down to RPI plus 1%, not only for this year, but for next year.