HC Deb 12 December 1994 vol 251 c444W
Mr. Andrew Smith

To ask the Chancellor of the Exchequer if he will list the main effects on the public sector accounts from 1992–93 to 1997–98 of the re-classification of British Nuclear Fuels Ltd. as a public corporation, including the effects on the public expenditure new control total, general Government expenditure, the general Government borrowing requirement and the public sector borrowing requirement.

Mr. Aitken

[holding answer 9 December 1994]: The figures for the control total contained in the "Financial Statement and Budget Report" include the following amounts for BNFL's external financing requirements for the years in question:

£ million
1992–93 1993–94 1994–95 1995–96 1996–97 1997–98
EFR -392 -653 -422 -411 -573 -244

The reclassification of BNFL as a public corporation in national accounts had no effect on general Government expenditure or the general Government borrowing requirement. However, it did mean that BNFL's market and overseas borrowing became part of the public sector borrowing requirement. The amounts in each year are:

£ million
1992–93 1993–94 1994–95 1995–96 1996–97 1997–98
EFR -417 -679 -449 -439 -601 -272

The difference between the two sets of figures represents the payment of the fossil fuel levy to BNFL which is now included in its external financing requirement but was previously outside the control total. These payments have been included in general Government expenditure since the 1993 national accounts Blue Book.