To ask the Secretary of State for Trade and Industry whether he will make a statement on his Department's request to Sir Ron Dearing to investigate leasing and rental agreements.

My Department has written to the Accounting Standards Board drawing attention to the problem that the accounts of some companies appear to have paid insufficient regard to potential future liabilities inherent in the business such as the impact of early termination of leases or continuing maintenance obligations. This may be a question of judgment in applying existing requirements or it may suggest a need to strengthen accounting standards. The Accounting Standards Board has confirmed that it will consider this problem.