§ Mr. Redwood
To ask the Chancellor of the Exchequer what his forecast is of losses on Network Rail for 2003–04. 
§ Dr. Howells
I have been asked to reply.
The Strategic Rail Authority receives regular financial information from Network Rail as part of the agreement for SRA providing Network Rail with standby credit facilities. The financial information is commercially sensitive. Network Rail's Annual Report and Accounts for 2002–03, the most recently available, showed a loss before tax of £290 million.