HC Deb 19 December 2003 vol 416 cc165-6W
Mr. Flight

To ask the Chancellor of the Exchequer (1) if he will list the value of capital expenditure payments made under private finance initiative/public private partnerships contracts in each year since 1997; [145471]

(2) whether the projected payments under private finance initiative contracts shown in Table C20 of Budget 2003, HC 500, comprise (a) capital expenditure and (b) other payments; and if he will state what these payment are. [145482]

Mr. Boateng

Table C20 of the Budget shows a forecast of the estimated unitary payments under signed PFI contracts over the next 25 years. PFI: Meeting the Investment Challenge paragraph 2.23 sets out what these payments comprise.

Table C18 of the Budget lists departmental estimates of capital expenditure by the private sector under signed PFI/PPP contracts. Since 1997 these estimates are:

£ billion
1997–98 1.5
1998–99 3.5
1999–2000 2.7
2000–01 3.2
2001–02 3.5
2002–03 3.7

Mr. Flight

To ask the Chancellor of the Exchequer (1) if he will state the nature of the element of private finance initiative contracts that is stated when these contracts are shown on balance sheet; [145479]

(2) what the total value is of (a) all private finance initiative contracts to maturity and (b) private finance initiative contracts shown on balance sheet; and what proportion of the total value is on balance sheet; [145480]

(3) if he will list the (a) private finance initiative contracts, (b) on-balance sheet private finance initiative contracts and (c) off-balance sheet private finance initiative contracts; and what proportion of private finance initiative contracts are on balance sheet. [145481]

Mr. Boateng

Where the assets constructed under PFI contracts are reported on departmental balance sheets, the value reported is the full value of the assets concerned in accordance with the requirements of the Accounting Standards Board's Application Note F to FRS 5—Private Finance Initiative and Similar Contracts.

A total of 563 PFI transactions reached financial close by 4 April 2003, with a total capital value of £35.5 billion. The estimated capital value of signed PFI contracts where capital assets are accounted for on departmental balance sheets is £20.2 billion. This represents 57 per cent. of the total estimated capital value.

A list of PFI contracts signed to date is available on the HM Treasury public website. PFI contracts where the assets concerned are on departmental balance sheets are reported in departmental accounts, together with disclosure of information relating to any contracts assessed as off balance sheet.