Clause 28 - Government guarantees for NDA borrowing
Energy Bill [Lords]
3:15 pm
Mr Laurence Robertson (Shadow Minister, Economic Affairs; Tewkesbury, Conservative)
A moment ago, we heard about NDA borrowing. Clause 28 refers to Government guarantees for NDA borrowing. Does the Minister think that guaranteed borrowing falls in the same category as grants to the NDA? It seems to me that the two are slightly different, because there is no specified amount that the NDA can borrow.
I am not saying that the NDA should not borrow. I am saying that, if the Secretary of State gives a guarantee to the NDA
''in such manner, and on such terms, as he thinks fit'',
she should assess the ability of the NDA to meet its commitment before giving the guarantee. I do not know the exact figure that we are talking about, but it is alarming that the taxpayer could be asked to underwrite sums of the magnitude that we are talking about without any reference to Parliament.