HC Deb 25 January 2002 vol 378 cc1152-3W
Matthew Taylor

To ask the Chancellor of the Exchequer if he will place in the Library the technical guidance given to civil servants in his Department on how to define PPPs as finance or operating leases; and if he will make a statement. [30204]

Mr. Andrew Smith

Copies of the Treasury document "Technical Note No.1 (revised)—How to Account for Private Finance Initiative (PFI) transactions" have been placed in the Library. The document sets out additional practical guidance on how to apply the Accounting Standards Board's Application Note "Amendment to Financial Reporting Standard (FRS) 5—Private Finance Initiative and Similar Contracts" and the requirement in the Treasury's "Resource Accounting Manual" that all complex transactions should be accounted for under the overriding principles of FRS5.