Finance Bill — [1st Allotted Day] — New Clause 5 — Contingent liabilities under the Private Finance Initiative — 3 Jul 2002 at 21:30

I beg to move, That the clause be read a Second time.

This is an important new clause because it addresses growing concerns expressed by the various authorities and professional bodies involved, by the City of London, and by citizens up and down the land. It calls for amendment to the Finance Act 1988 requiring a statement of the aggregate of all contingent potential liabilities as well as actual liabilities relating to private finance initiative and public-private partnership deals.

Question put, That the clause be read a Second time:-

The House divided: Ayes 176, Noes 296.

Debate in Parliament | Historical Hansard | Source |