§ Mr. Austin Mitchell
To ask the President of the Board of Trade what plans he has to outlaw off-balance-sheet financing schemes.
§ Mr. Neil Hamilton
The Companies Act 1989 extended the definition of a subsidiary undertaking and has resulted in the bringing on to consolidated balance sheets some schemes which were previously off balance sheet. I have no plans for further statutory provisions. However, the Accounting Standards Board is working towards an accounting standard on the matter.