§ Mr. Duncan Smith
To ask the Secretary of State for Defence in what circumstances his Department will be reimbursed by the Treasury in the event of(a) a delay in and (b) cancellation of the New DERA flotation. 
§ Mr. Hoon
[holding answer 16 March 2001]: The Ministry of Defence will receive a credit to the Defence Budget of at least £250 million in financial year 2001–02 in respect of the Public Private Partnership for DERA. This does not depend on whether the transaction has taken place, nor does the amount give an indication of the likely value of New DERA.