§ Mr. StreeterTo ask the Chancellor of the Exchequer what estimate he has made of the percentage of all new capital assets used by the public sector and provided by private finance initiative in(a) 2002–03, (b) 2003–04 and (c) 2004–05. [134006]
§ Mr. BoatengPFI/PPP represented 11 per cent. of total investment in public services in 2002–03. Projected figures for investment delivered through PFI/PPP as a proportion of total investment in public services in 2003–04 and 2004–05 are 11 per cent. and 8 per cent. respectively.
§ Mr. StreeterTo ask the Chancellor of the Exchequer whether in a private finance initiative contract including the use of physical property the property is retained by the private sector at the conclusion of the contract. [134007]
§ Mr. BoatengThe guidance issued by the Office of Government Commerce on the Standardisation of PFI Contracts makes clear that procuring authorities should consider whether or not retaining physical property at the conclusion of a contract offers the best value for money available.
The decision is for the procuring authority and should be made in light of its long-term objectives and the nature of the property involved.