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Departments: Private Finance Initiative

Volume 460: debated on Wednesday 23 May 2007

To ask the Secretary of State for Trade and Industry what the total value of private finance initiative projects included in his Department’s balance sheet (a) is and (b) was in each of the last five years, broken down by project. (137800)

Over the last five years, the Department’s PFI project for the redevelopment of the National Physical Laboratory at Teddington was included in the Department’s balance sheet. The PFI contract was terminated in December 2004. The building is now owned outright by the Department and continues to appear on the balance sheet. The value of the building at termination was £86.3 million [the current value is £92.6 million]. The Department had one other PFI during the period—the provision of IT—services—which was and still is off the balance sheet.

To ask the Secretary of State for Trade and Industry what the value was of annual private finance initiative payments made by his Department from (a) capital and (b) revenue budgets in each of the last five years. (137801)

The Department of Trade and Industry had two private finance initiative projects during the period—the PFI project for the redevelopment of the National Physical Laboratory (NPL) at Teddington, which was terminated in December 2004, and the provision of its IT services. Service payments for NPL PFI contract were met from a programme budget. Payments for IT services are met from the Department’s administration budget. The figures are as follows:

£ million

NPL

IT Services

2001-02

7.1

35.2

2002-03

7.4

45.1

2003-04

9.9

52.5

2004-05

9.0

54.6

2005-06

?

52.5

To ask the Secretary of State for Trade and Industry what value of annual private finance initiative payments by his Department was classified as (a) identifiable and (b) non-identifiable in each of the last five years, broken down by project. (137802)

All payments made under PFI are identifiable. Prior to a PFI contract being signed the profile of unitary charge payments is agreed between the contractor and the public sector, subject to the operation of the payment mechanism.

To ask the Secretary of State for Trade and Industry what value of annual private finance initiative (PFI) payments was (a) to repay capital and (b) expenditure on other parts of each PFI contract in each of the last five years, broken down by project. (137803)

The Department had two PFI contracts during the period—the redevelopment of the National Physical Laboratory at Teddington which was terminated in December 2004 and the provision of IT services. In the case of the NPL contract, the Department accounted for the unitary fee payments as:

£ million

Capital repayment

Resource

2001-02

1.4

5.7

2002-03

2.4

5.0

2003-04

0.4

9.5

2004-05

0.3

8.7

2005-06