§ Mr. Betts
To ask the President of the Board of Trade by how much Government spending has changed in 1994–95 as a result of the private finance initiative, what is the estimated effect in 1995–96; how many jobs are to be created by schemes approved to date under the initiative and how many have been lost as a consequence in the public sector; and what is the forecast of transfer of employment from public to private sector over the last five years because of the initiative. 
§ Mr. Heseltine
[holding answer 28 June 1995]: In addition to my Department's capital provision, £35.7 million was spent on the refurbishment of No. 1 Victoria street in 1994–95 as a result of obtaining private finance for this project. Around £30.5 million will be spent in 1995–96 on the same basis. No calculation has been made of the jobs this project has created/saved in the private sector but none has been lost in the public sector. No forecast has been made of the transfer of employment from the public to the private sector as a result of PFI.