During a meeting of the Committee for Infrastructure, Mr Beggs pressed officials to advise what was happen without increased funding for public transport.
Senior civil servant John McGrath responded by telling the committee cuts would be needed.
It was suggested that the only profitable services worth running would be parts of the Metro and Goldline network, but that “you’d just close down the railway”.
Mr Beggs said: “They confirmed that without increased funding, NI Transport Holding Company Directors, who are responsible for Translink, would have to prevent insolvency by very significant reductions in bus and rail services, with few services being viable on their own.
“My former colleague Danny Kennedy repeatedly warned of the dire situation facing Translink when he was the DRD Minister, but those calls fell on deaf ears at previous Executives and Translink now finds itself in a very precarious position.”
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