Government Contingent Liabilities

HC Deb 06 March 2003 vol 400 c1210W

Mr. Flight

To ask the Chancellor of the Exchequer if he will make a statement on the Government's contingent liabilities. [101276]

Mr. Boateng

There are transparent arrangements in place for the reporting of contingent liabilities. These are in accordance with the principles underpinning the Government's fiscal framework, Contingent liabilities are already reported to Parliament, in line with the requirements of Government Accounting 2000 (Chapter 26), when they arise. They are also disclosed in Departments' resource accounts (under the requirements of FRS12) and have been drawn together in the annual Supplementary Statements to the Consolidated Fund and National Loans Fund Accounts.