§ Mr. StringerTo ask the Secretary of State for the Environment, Transport and the Regions which local authority airport companies he regards as qualified to be freed from borrowing control. [74618]
§ Dr. ReidFollowing the issue of a consultation document and an invitation to qualified airport companies to apply to be freed from borrowing control, Manchester Airport plc, Newcastle International Airport Ltd., Leeds Bradford International Airport Ltd. and Norwich Airport Ltd. have applied. My right hon. Friend has considered their applications. He is satisfied that all four companies are financially sound and that they should be removed from borrowing control. He will therefore shortly lay before Parliament an Order making the necessary amendment to the Public Airport Companies (Capital Finance) Order 1996. Subject to Parliamentary approval the amending Order will take effect on 1 April.