Clause 7 - Credit arrangements
Local Government Bill
10:15 am
Mr Philip Hammond (Runnymede and Weybridge, Conservative)
If I understand the Under-Secretary correctly, he is saying that amendment No. 32 is unnecessary because subsection (2) provides for the apportionment of the cost of the PFI contract as an item that is a liability on the balance sheet and an item that is not. If so, will he make that explicit and, perhaps by using an example, show how that will work?