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Departments: Private Finance Initiative

Volume 460: debated on Thursday 24 May 2007

To ask the Secretary of State for Transport what the total value of private finance initiative projects included in his Department's balance sheet (a) is in 2007 and (b) was in each of the last five years, broken down by project. (137788)

The HM Treasury signed deals list identifies departmental managed projects that are ‘on balance sheet’. This is available at:

http://www.hm-treasury.gov.uk/media/EAF/pfi_signed_projects_list_april_2007.xls

The balance sheet presentation of Department for Transport ‘on balance sheet’ PFI projects is as follows:

£ million

Scheme

2002-03

2003-04

2004-05

2005-06

2006-071

DVLA Estates Rationalisation

0.60

2.71

M40

83.53

87.52

96.38

100.84

109.37

A19

56.08

58.76

64.71

67.70

73.43

A30

156.87

164.37

181.02

189.38

205.41

A1(M)

225.59

236.38

260.31

272.35

295.39

A417/A419

117.85

123.49

135.99

142.27

154.31

A50

42.02

44.03

48.49

50.73

55.03

M1-A1

463.86

486.04

535.25

559.99

607.37

A69

22.08

23.14

25.48

26.66

28.92

A1 Darrington to Dishforth

74.01

217.57

A249 IWADE

82.96

NRTS

24.24

M6 Toll

91.79

90.16

99.29

111.65

Dartford Crossing

538.89

560.47

573.10

599.06

590.32

Severn Crossing

758.20

787.83

805.64

842.17

875.13

NTCC

46.71

47.03

35.10

1 Unaudited

Notes:

1. The values shown are at the original public sector comparator costs for the new build component of each contract indexed for each individual year except as described in the following notes.

2. A1 Darrington to Dishforth, A249 and NTCC are valued using the base cost estimate supplied by the concessionaire at the tender stage, indexed for each individual contract. 3. NRTS reflects the value of work completed to date.

4. Severn Crossing reflects the value of both structures and is based on professional valuations indexed for each year.

5. Dartford Crossing reflects the value of the tunnels and the bridge and is based on professional valuations for each year.

6. These valuations are taken from the Highways Agency published accounts and may differ from those published in the Treasury signed deals list, which are valued at the public sector procuring body's estimate of the capital value of the property the private sector purchases or creates for delivering services under a PFI.

To ask the Secretary of State for Transport 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. (137789)

The capital value and revenue budget for Department for Transport PFI projects is available and updated at six monthly intervals through the HM Treasury Signed Deals list. The information is published on the Treasury website:

http://www.hm-treasury.gov.uk/media/EAF/0A/pfi_signed_projects_list_april_2007.xls

All payments to the contractor will come from the revenue budgets.

To ask the Secretary of State for Transport 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. (137790)

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.

For information on the value of each project, I would refer the hon. Member to the Treasury website:

http://www.hm-treasury.gov.uk/media/EAF/0A/pfi_signed_projects_list_april_2007.xls.

To ask the Secretary of State for Transport what value of annual private finance initiative (PFI) payments by his Department 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. (137791)

The Department does not retain information on how PFI payments have been used by the contractor to repay capital or for other purposes. This could be obtained only at disproportionate cost. The Highways Agency has undertaken its own estimate of capital repayments on its projects and a table has been placed in the Libraries of the House.