Bank of England Bill (Hansard, 21 January 1998)

HC Deb 21 January 1998 vol 304 c526W 526W

§ Ms Lawrence
To ask the Chancellor of the Exchequer if he will make a statement about the Explanatory Memorandum to the Bank of England Bill. [24941]

§ Mr. Darling
The Explanatory Memorandum to the Bank of England Bill will be altered to reflect new guidance on the treatment of cash ratio deposits in the National Accounts. On the basis of advice from Eurostat, the Bank of England's income on cash ratio deposits will not score as General Government Expenditure. This does not affect the position for the Financial Services Authority, whose costs will be General Government Expenditure.