Public Limited Companies (Financial Regulation)

Part of the debate – in Westminster Hall at 4:22 pm on 13th March 2003.

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Photo of Mr Nigel Beard Mr Nigel Beard Labour, Bexleyheath and Crayford 4:22 pm, 13th March 2003

The situation, which we on the Treasury Committee looked into, is not exactly as the hon. Gentleman represents it. Sir John Bourn believes that the Railtrack debt should be a contingent liability. It should not therefore be added to normal Government debt, or be considered against the golden rule or national debt. That is quite different from off-balance-sheet accounting.