§ 28. Mr. Kennedy
To ask the Secretary of State for Transport if he will make a statement on the future financial prospects for freight services within the British Rail network.
§ Mr. Freeman
Much of rail freight is profitable and has good prospects, but BR's Railfreight distribution business, which includes the Speedlink wagon service, continues to make very heavy losses. BR is currently reviewing the future of Speedlink in consultation with its customers. We have set Railfreight an overall objective of earning a profit of £50 million in 1992–93 (at 1989–90 prices), and we are backing new investment in rail freight wherever it offers sound commercial prospects.