Member

Finally, Dame Caroline, new clause 8 would require the Secretary of State, before nationalisation, to publish a statement to Parliament on contingent liabilities. Nationalisation could saddle the state with significant contingent liabilities and long-term financial risks, making up-front disclosure to Parliament essential. Of particular importance in new clause 8 are subsections 2(a) and (b). Paragraph (a) would ensure that the Government are required to be transparent on the value of hidden or future liabilities, including those that relate to environmental, pension or operational risks that could fall on taxpayers. Paragraph (b) would ensure that the Secretary of State takes steps