XN000022-1972-03-29 — Page 15

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Wednesday, March 29, 1972

On the financial side one very large unknown factor was the capital

cost, he said.

"All our calculations have to be based on assumed prices and, more

important, assume that contractors will not seek to cover the risks of working

underground with excessively large margins," he added.

"But whatever the ultimate decision on the mass transit railway,

the Government is not thinking in piecemeal terms even if the actual implementation

of a coherent and internally consistent transport policy has necessarily to be

piecemeal, because serious problems of road congestion are already apparent

in sertain areas at certain times," he said.