§ Mr. McWalter
To ask the Chancellor of the Exchequer what assessment he has made of the effectiveness of the instruments available for the financing of large-scale projects where returns are unlikely to be made within at least a decade. 
§ Mr. Andrew Smith
The criterion for assessing the effectiveness of investment in projects is whether value for money is secured. The Treasury's guidance on project appraisal—the "Green Book"—is aimed to help Departments achieve this objective. Departments have set out their investment plans in "Departmental Investment Strategies" published in July 2000.