CSR and accounting standards
Apparently the CSR contained a rather overlooked passage. It committed the government and its departments to comply with International Accountancy Standards.
The issue.. it will mean that PFIs have to be recognised on the Balance Sheet, and they will also need to be depreciated... a huge impact on revenue. Apparently the Treasury thought it was a good idea, and didn't work out the consequences.
Could be aweful for the MOD, i.e. the Tanker PFI.