THE Office of the Rail Regulator is to use the record £14m fine imposed on Network Rail to buy a gigantic motor yacht.

Officials say they have their eye on the 140ft, 12-berth Azura 2000, currently anchored in Palma and on sale for offers over £12.2 million.

The French-built Azura features crew quarters, a gourmet kitchen, a 22 seat cinema and a harpoon.

But Roy Hobbs, deputy director at the ORR, said: "Don't get me wrong, it's a lovely boat, but as I keep pointing out, it does not have a helicopter landing pad.

"I've been lobbying for the Calypso Dream, a 180ft beauty with a pool, a virtual driving range and a fleet of little submarines.  

"It's bang-on the 14 mil and is just sitting there in Naples waiting to be picked up." He added: "It used to be owned by Benny Hill."

But opposition MPs have criticised the move saying Network Rail should give the money to the regulator who should then give it to the Department of Transport who should then give it back to Network Rail.

Denys Hatton, Conservative MP for Minchinhamptonsteadbury, said: "Unless one part of the government is forced to hand over money to another part of the government and then wait a few weeks until they get it back, there will be no incentive for them to improve their performance."