§ Mr. DrewTo ask the Chancellor of the Exchequer if he will make a statement on his Department's policy on the ability of British Waterways to have some flexibility to borrow from the private sector. [8591]
§ Mr. Andrew Smith[holding answer 18 October 2001]: Borrowing from the private sector is normally more expensive than finance raised directly by Government. Therefore, on value for money grounds, all borrowing by British Waterways should normally be transacted through the National Loans Fund. The exception is PPPs in which value for money is achieved by transferring risk to the private sector.