Clause 18 - Local authority companies etc
Local Government Bill
2:45 pm
Mr Geoffrey Clifton-Brown (Cotswold, Conservative)
Clause 18 concerns local authority companies. As on the previous clause, I seek clarification from the Minister. We are concerned to ensure that there are no possible loopholes that would give rise to misuse of public money. For example, no draft regulations under clause 18(4) have been published. Could the Minister tell us what those draft regulations might include?
Will the Minister also tell the Committee what borrowing safeguards there will be for local authority companies and whether local authorities can give shareholder guarantees to the companies? With what
auditing regime will the companies have to comply, and will they be subject to best value and comprehensive performance assessments? How will local authorities be protected from fraud in relation to those separate companies, and what other safeguards provided in the Bill will apply?