§ Sir Paul Beresford
Two reductions have been made to these liabilities in line with the terms of the sale agreement for PSA Projects. First, the limit on the Government's liability to contribute to the costs of redundancies of staff formerly employed in PSA Projects has been reduced by £800,00 to £39.5 million, as calculated by using the formula in the sale agreement. This follows a correction to the previously reported transferring staff total to 704. Secondly, there has been a consequential reduction of £200,000 to £4.34 million in the consideration adjustment due to the purchaser on the first anniversary of the sale.