§ Mr. David Shaw
To ask the Secretary of State for the Environment what information he has on the losses sustained to date by individual local authorities from open and closed transactions involving interest rate swaps and other money market futures and option contracts.
§ Mr. Gummer
This information is not available from the regular financial returns which are made by authorities and we do not have full information from other sources for any individual authority.
I suggest my hon. Friend asks for details from councils engaging in this business who no doubt will want to be fully publicly accountable.