§ Matthew TaylorTo ask the Chancellor of the Exchequer for what reason the Government do not count incurring of liabilities through public-private partnerships as the incurring of financial liabilities in the consideration of the achievement of the Government's fiscal rules; and if he will make a statement. [16077]
§ Mr. Andrew SmithMost public-private partnerships involve operating leases rather than finance leases. In accordance with Statement of Standard Accounting Practice 21, the Government do not capitalise operating leases but do capitalise, and thus count as a financial liability, all finance leases.