HC Deb 29 January 1997 vol 289 cc290-1W
Mr. Alex Carlile

To ask the Secretary of State for Wales if he will list the surpluses carried forward or deficits incurred by the training and enterprise councils in Wales at the end of each of the last three years for which information is available; and if he will make a statement. [12841]

Mr. Hague

The information requested is contained in the table. The figures show that the reserves consist of funds which have already been used to acquire assets, or funds required to meet day to day needs, or funds which were committed to be spent over a reasonable period. The balance available for discretionary spending—£4.6 million—represents funds which have been earmarked by the TECs for planned expenditure during 1996–97 and for longer-term projects.

Officials in my Department continue to monitor closely the level of TEC reserves ensure that they are clearly related to demonstrable working capital needs or reinvestment plans.

Reserve levels in Wales are projected to fall to £18.191 million by March 1997. Of this, some £3 million will be available to support TEC discretionary spending outside the Government-funded training and enterprise programmes in 1997–98.

Welsh TEC reserve levels March 1994 to March 1996
£000s
TEC Total Fixed assets Long term loans Working capital1 Amount available for utilization
1994–95
Gwent 1,966 168 0 1,846 -48
Mid Glamorgan 3,354 279 180 2,283 612
North East Wales 2,525 208 435 1,183 699
Powys 512 65 0 558 -111
South Glamorgan 4,085 128 0 1,573 2,384
Targed 1,070 310 0 1,666 -906
West Wales 1,881 472 0 3,108 -1,699
All TECs
15,393 1,630 615 12,217 931
1995–96
Gwent 2,700 307 0 1,904 489
Mid Glamorgan 2,682 303 110 1,890 379
North east Wales 2,402 160 540 1,211 491
Powys 712 41 0 553 118
South Glamorgan 4,338 85 250 1,320 22,452
Targed 1,768 384 108 1,543 -267
West Wales 6,341 599 0 3,517 2925
All TECs 20,943 1,879 1,008 11,938 4,587
Notes:
1 Estimated at six weeks turnover.
2 Excludes contractual commitments of £231,000 and £1,300,00 for South Glamorgan and West Wales TECs respectively.
Source:
TEC statutory accounts.