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QinetiQ: Land

Volume 472: debated on Wednesday 5 March 2008

To ask the Secretary of State for Defence what the value of land disposals by Qinetiq has been in each of the last three years. (190421)

When QinetiQ was vested as a company in 2001, it was required to purchase its assets from the Government. Consequently, the receipts from the sale of land go directly to the company and, therefore, the details of disposals are a matter for them.

However, claw-back arrangements are in place to ensure that the taxpayer benefits directly from any substantial subsequent increase in value of the land once sold. I also refer the hon. Member to the answer I gave to the hon. Member for Portsmouth, South (Mr. Hancock) on 27 February 2008, Official Report, column 1577W.