The forecast cost and liabilities for the Department’s Private Finance Initiative contract with Land Securities Trillium between 1998 and 2018 is £11.517 billion including rates and utilities. The capital values for the contracts are £455 million. The Unitary Charge element, based on actual cash payments to date plus estimated payments to the end of the contract 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.
The NAO report of 1998-99 estimated that this contract cost 22 per cent. less than continued public sector ownership and management of the estate.