§ Mr. RedwoodTo ask the President of the Board of Trade what guidelines her Department has issued to British Nuclear Fuels plc concerning future liabilities on overseas contracts.[13555]
§ Mr. Battle[holding answer 30 October 1997]: BNFL's commercial contracts with overseas customers for reprocessing services are underpinned by inter-Governmental agreements. Arrangements for implementing these contracts, including the accounting treatment, are a matter for the company. In relation to such contracts, I understand that the company, where applicable, makes prudent and appropriate provision for future liabilities that may arise, in accordance with generally accepted accounting policies. Full details of BNFL's accounting policies on, and provisions for, future liabilities are given in its Annual Report and Accounts.
§ Mr. Llew SmithTo ask the President of the Board of Trade what assessment she has made of the implications for nuclear safety of the projected merger between BNFL and Siemens. [13761]
§ Mr. BattleDiscussions between BNFL and Siemens concerning a possible joint venture company are at a preliminary stage. My Department is being kept fully informed of developments. Any undertakings concerned with nuclear operations will, of course, be subject to the applicable safety regulations.