| Description | Further takeover of road haulage companies (completed July 1957). British Transport Commission's (BTC) banks do not wish to continue overdraft facilities; Bank urge HM Treasury (HMT) to insist they borrow from banks rather than Exchequer, August 1956. HMT/Bank discuss whether Exchequer should assume liability for Transport Stock, October 1960, and raising BTC's borrowing limit from £15m to £25m in New Year. White Paper on Reorganisation of the Nationalised Transport Undertakings, December 1960. |