§ Mr. Adleyasked the Chancellor of the Exchequer if he will regard the sums involved in the provision of indemnities to private sector financiers against future cancellation of projects such as the Channel tunnel as not adding to the public sector borrowing requirement.
§ Mr. BrittanWhen the Government guarantee borrowing by a private sector institution the PSBR is affected only if and when the guarantee is called. Guarantee borrowing by a public sector body scores when the borrowing takes place.