Trust Ports

House of Lords written question – answered on 6th April 2010.

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Photo of Lord Berkeley Lord Berkeley Labour

To ask Her Majesty's Government whether all borrowing by trust ports defined as public corporations is included in the public sector net borrowing statistics; and, if so, whether the accounts of all such bodies specify that.

Photo of Lord Adonis Lord Adonis Secretary of State, Department for Transport, The Secretary of State for Transport

Net borrowing by those trust ports classified as public corporations by the Office of National Statistics contributes to the public sector net borrowing.

Trust ports prepare their accounts in accordance with the requirements of the Companies Act and follow either UK generally accepted accounting practices or financial reporting standards. Neither would require trust ports to record that their borrowing contributes to the public sector net borrowing.

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