Departmental Public Expenditure

Treasury written question – answered on 8th April 2010.

Alert me about debates like this

Photo of Philip Hammond Philip Hammond Shadow Chief Secretary to the Treasury

To ask the Chancellor of the Exchequer whether his Department has incurred expenditure on (a) foreign exchange derivatives and (b) consulting on currency hedging strategies in each of the last five years.

Photo of Sarah McCarthy-Fry Sarah McCarthy-Fry Parliamentary Secretary, HM Treasury

holding answer 30 March 2010

Under the Credit Guarantee Scheme, HM Treasury uses foreign exchange derivatives to hedge fee income received for debt issued in foreign currencies. HM Treasury does not incur explicit expenditure on these transactions; any fees charged for the use of these derivatives would be reflected in the level of the foreign exchange gain received. HM Treasury reports on the Credit Guarantee Scheme, and its financial impacts, annually in its Resource Accounts.

HM Treasury has not incurred any expenditure on consulting on currency hedging strategies.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.