Oral question asked in the House of Commons, by James Brokenshire (Conservative). It was answered by Lord Browne of Ladyton (Labour) on Thursday, 2 March 2006 on behalf of the Treasury.

Off-balance-sheet Debt

Question: What recent assessment he has made of the effect of off-balance-sheet debt on the sustainability of the public finances. [55130]

Answer: The Government are meeting their fiscal rules and the long-term public finance report shows that public finances remain sound and sustainable. The risk of off-balance-sheet projects lies with the private sector. Under the UK's internationally agreed and independently measured national accounts, off-balance-sheet debt is not included in measures of public net debt. The decision about whether any individual private finance initiative is on or off balance sheet is made in accordance with the UK's accounting standards. It is made independently of Government by the relevant audit body.

Secondary information

Type: Oral question
Reference: 443 c396; 55130
Session: 2005-06
Oral question type: Lead
Chamber / Committee: House of Commons chamber
Subjects: Debts Private sector Private finance initiative Public finance Public sector debt
Link: View this Oral question on www.publications.parliament.uk