Mr. Alan Lee Williamsasked the Secretary of State for the Environment whether he is satisfied with the present accounting system for expenditure on infrastructure in respect of transport by inland waterway; and whether it includes amortisation of, and interest on, loans contracted for the purpose of financing infrastructure expenditure.
§ Mr. Denis HowellI assume that my hon. Friend is referring to the British Waterways Board. The Board's accounting system is of long standing and I am not aware of any reason for changing it. Commercial investment in infrastructure is charged to capital account and appropriate charges for depreciation and interest on loans appear in the Board's published accounts. Other expenditure on infrastructure is charged to revenue account and is thus eligible for grant-in-aid.