HC Deb 09 June 1998 vol 313 c494W
Mr. Gibb

To ask the Chancellor of the Exchequer if he will set out the Treasury's guidelines on whether loans guaranteed by the Government form part of the PSBR. [44965]

Mr. Darling

Borrowing by the public sector forms part of the PSBR whether guaranteed or not. Market borrowing by the private sector guaranteed by the Government does not form part of the PSBR. The guarantee is a contingent liability. Only if the guarantee is called in would there be any public expenditure and thus an impact on the PSBR.