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Queen Elizabeth II Conference Centre (Targets 2011-12)

Volume 530: debated on Thursday 23 June 2011

My noble Friend the Under-Secretary of State for Communities and Local Government, Baroness Hanham, has made the following written ministerial statement:

I am today announcing that key performance targets have been agreed for the Queen Elizabeth II Conference Centre for the period 1 April 2011 to 31 March 2012.

The agency’s principal financial target for 2011-12 is to achieve a minimum dividend payment to the Department for Communities and Local Government equal to the total of 6% of average capital employed and a sum equal to the capital charge that applies to the building for the year concerned. Therefore, the agency’s budget for 2011-12 includes a minimum dividend payment of £1,100,000. An additional dividend of £100,000 will be paid if the financial forecast for the year is achieved.

The agency also has the following targets to achieve:

A 54% occupancy of its rooms based on a theoretical full occupancy revenue of £9,680,970;

Overall score for value-for-money satisfaction of greater than 90%;

The number of complaints received to be less than two per 100 events; and

An average response time when answering complaints of less than four working days.