HL Deb 19 November 1998 vol 594 cc185-6WA
Lord Brabazon of Tara

asked Her Majesty's Government:

Whether the bond issue proposed by London and Continental Railways which the Government are to guarantee unconditionally and irrevocably will be counted as public sector debt; and, if not, why not. [HL3850]

Lord Whitty

As my right honourable friend the Deputy Prime Minister explained in his Statement of 3 June, the bonds to be issued by London and Continental Railways and guaranteed by the Government will be repaid from the proceeds of the sale of the Channel Tunnel Rail Link, and the likelihood of the Government incurring liability under the guarantee is judged to be remote. The Office of National Statistics (ONS) has therefore decided, in line with the treatment

London Local Authorities—1996–97 Parking Accounts
Income Expenditure Net Income Comments
Barking & Dagenham 486 480 6 Surplus used for off-street parking
Barnet 2,119 1,040 1,079 Surplus used for improved parking facilities (69) and carry forward to 1997-98 (1010)
Bexley 1,067 1,222 (155) Deficit accrues to parking account
Brent 2,515 2,668 (153) Deficit accrues to parking account
Bromley 1,721 1,004 717 Surplus used for traffic management schemes (286), improvement schemes (376) and professional services (55)
Camden 14,962 7,964 6,998 Surplus used for concessionary fares and Taxicard scheme (4,158), and highways and traffic improvement schemes (2,840)
Corporation of London 6,849 3,009 3,840 Surplus used for revenue expenditure on "New Roads and Improvements" (35), Western Extension Experimental Scheme (131), Replacement bus service—Waterloo and City Line (22), Capital expenditure on highways (3,431), Capital expenditure on off-street parking (24) and residual balance of surplus to reserve (197)
Croydon 4,454 3,033 1,421 Surplus used as a contribution to managing and maintaining off-street parking
Ealing* 2,030 2,150 (120) Deficit accrues to parking account
Enfield* 1,819 2,110 (291) Deficit and cost of waiting restrictions Review (180) accrued to General Fund
Greenwich* 1,495 1,057 438 Surplus applied against Concessionary Fares
Hackney 2,775 2,756 19 Surplus used for off-street parking maintenance

of contingent liabilities in the European System of Accounts 1995, that the guarantee will not be counted as public sector debt.