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Private Finance Initiative

Volume 455: debated on Monday 8 January 2007

To ask the Secretary of State for Work and Pensions what the total capital value is of each private finance initiative scheme overseen by his Department which has reached financial close; over what period repayments will take place; and what the total cost of repayment will be. (103516)

The capital values for the combined PRIME and expanded PRIME contracts are £455 million. The contract period is 1 April 1998 to 31 March 2018.

The total repayments including rates and utilities is forecast to be £11.5 billion. The Unitary Charge element, based on actual cash payments to date plus estimated payments to the end of the contract at 2018, is estimated to be £9.7 billion. The balance between the £11.5 billion and the £9.7 billion is accounted for by rates and utility pass through costs.