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Communities and Local Government

Volume 563: debated on Tuesday 21 May 2013

Private Finance Initiative

To ask the Secretary of State for Communities and Local Government which private finance initiative projects under his Department have been refinanced in each year since May 2010; what the value is of each such project; what the refinancing gain has been in each such case; and how much of any such gain the relevant Government body received through a (a) lump sum and (b) reduction in the unitary charge.

[Official Report, 13 May 2013, Vol. 563, c. 55W.]

Letter of correction from Brandon Lewis:

An error has been identified in the written answer given to the hon. Member for Airdrie and Shotts (Pamela Nash) on 13 May 2013.

The full answer given was as follows: (154716)

The following DCLG sponsored private finance initiative projects are reported by their authorities to have been refinanced since May 2010: Derby Housing Non-Housing Revenue Account; Bolton Community Learning Resource Centre; Tyne and Wear Fire Headquarters and Community Fire Stations; and Newham Canning Town Housing Revenue Account. Details of their capital values are held on HM Treasury's current private finance initiative projects list:

http://www.hm-treasury.gov.uk/d/pfi_current_projects_list_march_2012.xls

The Department does not carry information relating to the refinancing of the projects managed by local authorities. This is because there is no obligation for local authorities to inform Departments in the event of a refinancing.

The correct answer should have been:

The following DCLG sponsored private finance initiative projects are reported by their authorities to have been refinanced since May 2010: Derby Housing Non-Housing Revenue Account; Tyne and Wear Fire Headquarters and Community Fire Stations; and Newham Canning Town Housing Revenue Account. Details of their capital values are held on HM Treasury's current private finance initiative projects list:

http://www.hm-treasury.gov.uk/d/pfi_current_projects_list_march_2012.xls

The Department does not carry information relating to the refinancing of the projects managed by local authorities. This is because there is no obligation for local authorities to inform Departments in the event of a refinancing.