§ Mr. Spearingasked the Secretary of State for the Environment if he will correct or modify the statement made in paragraph 4.3, line 4, of his consultation paper on the Ordnance Survey of December 1982 concerning the existence of trading accounts; on what date or dates trading accounts were introduced on a trial or any other basis; and what advantages he sees in transferring this basis of accounting into a trading fund.
§ Mr. KingThe statement referred to does not need correction.
Trading accounts have been produced for internal use by Ordnance Survey since 1972–73. Over the years they have been improved and accounting policies which would be applicable to a trading fund, have been developed.
The advantage of a trading fund operation, as opposed to the trading accounts, is that it would allow the accounts to flow from year to year bringing greater business realism to Ordnance Survey. Notional trading accounts cannot provide the real pressures of operating on a trading basis.