§ Mrs. Helen Clark:To ask the Chancellor of the Exchequer (1) pursuant to his answer of 2 July 2003, Official Report,column 276W, on trading fund models, if he will make it his policy to require Government agencies operating on a trading fund model to report the amounts of their turnover provided by sales to (a)Government Departments and Government agencies, (b)private sector customers and (c)value added resellers; and if he will make a statement; [132166]
(2) if he will require Ordnance Survey to publish in its Annual Report the breakdown of its turnover of between sales (a)to Government Departments and Government agencies, (b)to private sector customers and (c)to value-added resellers; and if he will make a statement. [132167]
§ Mr. Boateng:Trading funds prepare their accounts in accordance with the requirements of "Trading Funds: Accounts Guidance issued by HM Treasury". These requirements comply with Generally Accepted Accounting Practice in the United Kingdom (UK GAAP) to the extent that this is meaningful and appropriate in the public sector context. UK GAAP includes pronouncements by the Accounting Standards Board, one of which (Statement of Standard Accounting Practice 25) requires the disclosure of turnover by class of business or geographical segment where the body operates in more than one class of business or geographical segment. In line with the provisions of SSAP 25, it is for the management of the trading fund to define the appropriate class of business or geographical segments. In addition, where a trading fund provides different services as defined in the "Fees and Charges Guide" (also issued by HM Treasury), the Guide requires information about the performance of each service—including details of the turnover—to be disclosed.
There are currently no plans to extend the disclosure requirements for trading funds (either in general or in specific cases) beyond those of SSAP 25 and the "Fees and Charges Guide".