Ring-fenced Revenue Accounts (Hansard, 11 May 1993)

HC Deb 11 May 1993 vol 224 c400W 400W

§ Mr. Dafis
To ask the Chancellor of the Exchequer if he will make it his policy to treat investment from ring-fenced revenue accounts financed from local resources as outside the remit of the public sector borrowing requirement.

§ Mr. Portillo
No. By definition the public sector borrowing requirement measures borrowing by the whole of the public sector, including local authorities.