§ Mr. KidneyTo ask the Chancellor of the Exchequer where the net borrowing of public corporations is accounted for in(a) returns made to the EU Commission regarding the measure of fiscal deficit required by the Maastricht Treaty and (b) the public accounts. [30551]
§ Mrs. LiddellThe Maastricht deficit measure is the general government financial deficit (GGFD), which covers only central government and local authorities and excludes public corporations. The net borrowing of public corporations is included in the public sector borrowing requirement (PSBR), which is the sum of the central government borrowing requirement on own account, the local authority borrowing requirement and the public corporations borrowing requirement.