Question
Lord Beecham
Labour
Life peer
Lords
To ask Her Majesty’s Government what is their estimate of the annual profits to be made by the successful bidders for the East Coast rail franchise.
Answered on
9 December 2014
The level of profit bid by Inter City Railways Limited is commercially sensitive. It is not guaranteed and is commensurate with the risks associated with a franchise of this size and nature. The Government has put in place a profit cap and profit sharing mechanism to prevent any possibility of “over-compensation”.
Answered by
Department for Transport