§ Lord Brabazon of Taraasked Her Majesty's Government:
Whether the bond issue proposed by London and Continental Railways which the Government are to guarantee unconditionally and irrevocably will be counted as public sector debt; and, if not, why not. [HL3850]
§ Lord WhittyAs my right honourable friend the Deputy Prime Minister explained in his Statement of 3 June, the bonds to be issued by London and Continental Railways and guaranteed by the Government will be repaid from the proceeds of the sale of the Channel Tunnel Rail Link, and the likelihood of the Government incurring liability under the guarantee is judged to be remote. The Office of National Statistics (ONS) has therefore decided, in line with the treatment
186WA
London Local Authorities—1996–97 Parking Accounts £000s Income Expenditure Net Income Comments Barking & Dagenham 486 480 6 Surplus used for off-street parking Barnet 2,119 1,040 1,079 Surplus used for improved parking facilities (69) and carry forward to 1997-98 (1010) Bexley 1,067 1,222 (155) Deficit accrues to parking account Brent 2,515 2,668 (153) Deficit accrues to parking account Bromley 1,721 1,004 717 Surplus used for traffic management schemes (286), improvement schemes (376) and professional services (55) Camden 14,962 7,964 6,998 Surplus used for concessionary fares and Taxicard scheme (4,158), and highways and traffic improvement schemes (2,840) Corporation of London 6,849 3,009 3,840 Surplus used for revenue expenditure on "New Roads and Improvements" (35), Western Extension Experimental Scheme (131), Replacement bus service—Waterloo and City Line (22), Capital expenditure on highways (3,431), Capital expenditure on off-street parking (24) and residual balance of surplus to reserve (197) Croydon 4,454 3,033 1,421 Surplus used as a contribution to managing and maintaining off-street parking Ealing* 2,030 2,150 (120) Deficit accrues to parking account Enfield* 1,819 2,110 (291) Deficit and cost of waiting restrictions Review (180) accrued to General Fund Greenwich* 1,495 1,057 438 Surplus applied against Concessionary Fares Hackney 2,775 2,756 19 Surplus used for off-street parking maintenance of contingent liabilities in the European System of Accounts 1995, that the guarantee will not be counted as public sector debt.