HMT officials provided informal advice to the Welsh Government on the likely factors that would be considered by the Office for National Statistics (ONS) for the classification of financial guarantees for the Heads of the Valley Development Company Circuit of Wales projects. It is for the Welsh Government to manage the implications for capital provision or borrowing capacity on any ONS...
The classification of public sector capital expenditure is a matter for the independent Office for National Statistics (ONS).
HMT have regular discussions with the Welsh Government on a range of subjects. Any decisions on the classification of government financial guarantees to the Circuit of Wales project are for the Office for National Statistics.
Entered the House of Lords on 14 July 2017
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