Pursuant to my answer to the hon. Member for Surrey Heath of 26 March 2007, Official Report, column 1321W, to date, public expenditure related to the Millennium Communities programme, excluding the Greenwich Peninsula site amounts to a total of £86,561,250.
This amount relates to a wide range of start-up expenditure that is necessary to regenerate difficult brownfield sites and create thriving new communities, such as providing essential infrastructure, sustainable urban drainage systems, community facilities and so on. The Millennium Communities programme as a whole is bringing forward seven new schools and colleges, five new health centres, 10 new public parks and play areas, and eight new community buildings. In addition, over 70,000 sq m of commercial and retail accommodation will be created. As an example, at the New Islington Millennium Community in Manchester the public investment is creating a new canal network, roads and infrastructure, a new primary school, a state of the art health centre, car club, child care facilities, an energy centre and 6,000 sq m of employment floorspace in addition to the 1,400 new homes.
It is anticipated that some 75 per cent. of this public investment will be recouped in due course through receipts. The precise final figure will be known when the sites have been completed and developments sold. In addition, a significant amount of private sector investment has been levered in to these seven regeneration areas. This is currently some £749 million, which represents a private:public ratio of 8:1.