Independent Body

Part of Orders of the Day — Government Resources and Accounts Bill – in the House of Commons at 9:45 pm on 29 February 2000.

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Photo of Miss Melanie Johnson Miss Melanie Johnson Economic Secretary, HM Treasury 9:45, 29 February 2000

No, I am sorry; I am not giving way.

The Government's proposals will mean that the Treasury has little discretion in the setting of accounting policies. That is in contrast to the present system, in which the Treasury has almost total freedom to determine the policies to be followed. The proposed system does not require the designation of either an existing body, or a new body, to determine those policies.

A framework has already been put in place—indeed, it was established by the Conservative Government—to ensure that there are limits on the Treasury's discretion. That framework is working—unlike some of the other measures introduced by the Conservatives.

The Maastricht—[Interruption.]—The hon. Member for Ribble Valley (Mr. Evans) asks whether I am taking interventions. He has only just entered the Chamber—no doubt, he has just come back from dinner. I took many interventions during my previous summing-up but given the quality of the debate on this group, I propose—