My honourable friend the Parliamentary Under-Secretary of State (Shahid Malik) has made the following Written Ministerial Statement.

I am today announcing key performance targets that have been agreed for the Queen Elizabeth II Conference Centre for the period 1 April 2010 to 31 March 2011.

The agency’s principal financial target for 2010-11 is to achieve a minimum dividend payment to the Department for Communities and Local Government equal to the total of 6 per cent 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 2010-11 includes a minimum dividend payment of £1,000,000. The agency is a revenue producing business and will also pay to the department an additional £200,000 (20 per cent) as its contribution to the Government’s operational efficiency programme.

The agency also has the following targets to achieve:

a 65 per cent occupancy of its rooms based on a theoretical full occupancy revenue of £9.048,000;

overall score for value for money satisfaction of greater than 90 per cent;

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.