HL Deb 05 November 2002 vol 640 cc100-2WA
Lord Barnett

asked Her Majesty's Government:

Further to the Answer by Lord McIntosh of Haringey on 23 October (HL Deb, cols. 1329-32), whether they will provide the figures of off-balance sheet borrowings that are fully guaranteed under private finance initiatives, public/private partnerships and any other similar projects. [HL6183]

Lord McIntosh of Haringey:

The Government do not generally provide guarantees for borrowing undertaken as part of the private finance initiative or public/private partnerships. Companies providing services under the private finance initiative raise finance at their own risk, not at the Government's risk. The one exception is the Channel Tunnel Rail Link PPP project, in which the Government guaranteed £3.75 billion-worth of borrowing by London and Continental Railways Ltd.