§ Mrs. MayTo ask the Secretary of State for Transport, Local Government and the Regions if he will list the level of(a) on-balance sheet and (b) off-balance sheet debt for each local authority in each year since 1997. [34822]
§ Mr. ByersLocal authority off-balance sheet information is not collected by DTLR. Figures for local authority outstanding debt at 31 March 1997 and 31 March 2000 have been placed today in the Libraries of the House. Outstanding debt is equivalent to on-balance sheet debt. Figures for 1998 and 1999 are not available centrally. Outstanding debt for individual authorities as at 31 March 2001 will be published shortly on the DTLR website www.dtlr.gov.uk/finance/stats.
It should be noted that authorities with high levels of debt are generally those which have undertaken capital investment and that long-term borrowing to finance capital expenditure is regulated by Government through the issue of credit approvals.