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Accounting Procedures

Volume 164: debated on Thursday 21 December 1989

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To ask the Secretary of State for Trade and Industry whether in the last 10 years he or his predecessors, either by direction or informally, secured changes in the accounting conventions followed by British Telecom, Cable and Wireless, British Steel, Jaguar, Rover, Rolls-Royce or British Aerospace, respectively; and if he will make a statement.

[holding answer 18 December 1989]: When these companies were in the public sector, the Secretary of State for Trade and Industry had powers to direct, with Treasury approval, the methods and principles according to which their statements of accounts were prepared. Details of when such directions were issued are not readily available and could be assembled only at disappropriate cost. Since privatisation, the accounting conventions used have been a matter for the chairman and board of each company in consultation with its auditors.

where relevant, for 1988–89, and with his projections for 1990–91 and 1991–92; and if he will also express the figures in real terms at 1988–89 prices.

[holding answer 18 December 1989]: The requested information, with regard to expenditure in 1988–89 and 1989–90 (to end November), in respect of the listed schemes of assistance is as follows: