§ Mr. Flynn
To ask the Secretary of State for Transport (1) what is the percentage distribution between the sources of finances offered by the European Investment Bank and other sources offered by the two consortia who bid for the construction of the second Severn crossing;
(2) what toll levels, over what period and rate of inflation on the Severn crossings were offered by the Trafalgar house/Balfour Beatty consortium and the Laing/GTM Entrepose consortium;
(3) whether there was any difference in the burden for bearing the risks of the growth of future traffic levels in the bids made by the two consortia who bid for the second Severn crossing;
(4) whether he advised the Trafalgar House-Balfour Beatty consortium of his concern at the perceived financial risk relating to the subordinated debt of £60 million on the existing crossing during the assessment period of the bids for the second Severn crossing.
§ Mr. Atkins
Both the final two shortlisted consortia offered a range of alternative financing and tolling options within their privately financed proposals. Details of these must remain commercially confidential. All proposals were assessed on the basis indicated to the bidders in the Department's tender invitation document, which explained that risks would need to be evaluated.
§ Mr. Atkins
Following the assessment of tenders, my right hon. Friend was fully satisfied that the Laing-GTM consortium has the requisite experience and capability to construct the second Severn crossing.