§ Mr. MeacherTo ask the Secretary of State for Defence which merchant bank is the adviser to his Department; and if he will list all the fees and commissions paid to banks by his Department each year since 1988.
§ Mr. HanleyMy Department does not employ any one merchant bank as a permanent adviser. In fact, since 1988, only one centrally held record exists for the employment of a merchant bank. This was a contract placed with Kleinwort Benson Investment Trust Ltd. for a project in connection with the contractorisation of the royal dockyards in August 1993. To protect commercial confidentiality, the value of this contract cannot be released. It is likely that a number of other, lower-value contracts will have been placed with banks by subordinate budget holders from time to time during the period in question. The details of such contracts are not held centrally, however, and details could be provided only at disproportionate cost.