HC Deb 09 February 1995 vol 254 cc418-9W
Mr. Rowe

To ask the Secretary of State for Employment how the credit rating of training and enterprise councils is assessed; and how contractors on the TECs can ascertain it.

Mr. Paice

The Government do not check the credit ratings of training and enterprise councils. They keep in touch with TECs' own statements of their financial position through regular scrutiny of their management accounts, which they receive on a commercial-in-confidence basis.

The Government also examines TECs' annual statutory accounts, which they are required to lodge with this Department by 31 July and with Companies House by the end of the January following each financial year.

Until the date by which the statutory accounts have to be lodged at Companies House, they are commercial-in-confidence, but as this Department receives them, copies are placed in the Library.

Credit rating organisations in the private sector offer assessment of TECs as part of their normal business. These would be available to training providers as are the statutory annual accounts lodged with Companies House.

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