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Trust Ports

Volume 718: debated on Tuesday 6 April 2010

Question

Asked by

To ask Her Majesty's Government whether all borrowing by trust ports defined as public corporations is included in the public sector net borrowing statistics; and, if so, whether the accounts of all such bodies specify that. [HL3190]

Net borrowing by those trust ports classified as public corporations by the Office of National Statistics contributes to the public sector net borrowing.

Trust ports prepare their accounts in accordance with the requirements of the Companies Act and follow either UK generally accepted accounting practices or financial reporting standards. Neither would require trust ports to record that their borrowing contributes to the public sector net borrowing.