Mr Byers says he cannot remember why he did not tell the truth
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Ex-Transport Secretary Stephen Byers is facing Conservative demands for an inquiry into his admission that he did not tell MPs the truth about Railtrack.
Mr Byers told the High Court his evidence to the Commons transport committee had been untruthful.
The court is examining claims for compensation over Railtrack's collapse.
Mr Byers apologised but said he had not been trying to conceal any plot. On Friday, he said he wanted to make a personal statement in the Commons.
'Scandal'
Mr Grayling was the backbench MP whose question prompted Mr Byers' untruthful response to the Commons committee in November 2001.
On Friday, Mr Grayling said lying to Parliament was a "cardinal sin" for a minister.
"Essentially if Stephen Byers was still a government minister, he'd have to resign," he argued.
He said Mr Byers was no longer a minister but was still an MP.
The Tory frontbencher is now asking the Commons standards and privileges committee to investigate his untruthful statements.
On Friday, Mr Byers said: "Providing the Speaker agrees, I shall be making a personal statement to the House of Commons in relation to the reply I gave to a question put to me during a meeting of the Transport Select Committee in November 2001.
"For understandable reasons I want to make this statement as soon as possible.
"However, I have been advised that it should not be made while the High Court is hearing the present case being brought by the Railtrack Private Shareholders Action Group."
Labour MP Gwyneth Dunwoody, who was chairman of the Commons committee when Mr Byers gave evidence, said his court comments were of "grave concern".
The committee would discuss the issue when it met next week, she said.
Grilling
When Mr Byers was questioned by a Commons sub-committee, he said he was not aware of a change in Railtrack's status being discussed before 25 July 2001.
But in the court on Thursday he was challenged over this version of events by the shareholders' barrister - who produced documentary evidence showing the work had started.
They included e-mails and notes from Department of Transport officials showing that taking Railtrack into administration had been one of the options being discussed as early as June.
Quizzed by Keith Rowley, QC for Railtrack shareholders, Mr Byers admitted his answer to MPs had been untrue.
"It is true to say there was work going on, so, yes, that was untrue," he said.
Questioning Mr Byers again about the "welter of documentation" on the options for Railtrack, Mr Rowley, QC said: "You could not possibly have believed that the answer you gave ... was true, could you?"
"I accept this is not an accurate statement," said Mr Byers.
Motives?
The MP was asked if it was "deliberately not an accurate statement".
Mr Byers replied: "It was such a long time ago, I cannot remember, but it is not a truthful statement and I apologise for that.
"I cannot remember the motives behind it."
The MP later told the court he had been under pressure during the hearing and had not set out to conceal any conspiracy or plot.
Mr Byers resigned as transport secretary in May 2002.
At the time, he said he had tried to "behave honourably", adding "the people that know me best know I am not a liar".