Written question asked by Nigel Spearing (Labour), in the House of Commons. It was due for an answer on Tuesday, 4 March 1997. It was answered by John Bowis (Conservative) on Tuesday, 4 March 1997 on behalf of the Department of Transport.

Dept of Transport

Question: Pursuant to his oral Answer to the honourable Member for Southwark and Bermondsey of 25th February, Official Report, column 164W, if he will comment on the treatment of future public and private investment in London Underground Limited in respect of limits on public borrowing set out in the convergence criteria in the Maastricht Treaty. - (Holding answer 3 March 1997).

Answer: Mr. Spearing: To ask the Secretary of State for Transport, pursuant to his oral answer to the hon. Member for Southwark and Bermondsey (Mr. Hughes) of 25 February, Official Report, column 164, if he will make a statement on the treatment of future public and private investment in London Underground Ltd. in respect of limits on public borrowing set out in the convergence criteria in the Maastricht treaty. [18354] Mr. Bowis: [holding answer 3 March 1997]: The general Government financial deficit is the measure used in the Maastricht criteria. The general Government sector excludes public corporations, such as London Underground. Net borrowing by a publicly-owned London Underground would however score against London Transport's external finance limit and against the public sector borrowing requirement.

Secondary information