§ Mr. FlightTo ask the Chancellor of the Exchequer if he will make a statement on the Government's interests in Network Rail, taking into account the UK accounting principles. [81809]
§ Ruth KellyThe Government does not have an equity stake in Network Rail nor does it control the company's governing board. Government has made certain credit facilities available to the company. UK accounting principles includes both Generally Accepted Accounting Practice (GAAP) used to prepare company accounts, and the European System of Accounts (ESA95) used by the Office for National Statistics for the compilation of economic statistics. Sir John Bourne (the Comptroller and Auditor General) and Len Cook (the National Statistician) made a joint statement on 24 October on how these accounting rules affect Network Rail. This is available on the ONS and NAO web sites.