HL Deb 24 June 1993 vol 547 cc13-4WA
Lord Kennet

asked Her Majesty's Government:

Why the fees paid by taxpayers to Messrs. N. M. Rothschild in the course of the privatisation programme are a matter of commercial confidentiality, and how taxpayers are able to discern whether value for money has been obtained in such cases.

The Minister of State, Department of Transport (The Earl of Caithness)

It is normal practice for the terms of contracts of appointment to be treated as commercial in confidence. The Government have consistently sought to ensure value for money in appointment of advisers. Its procedures for appointment, and the costs incurred, may be subject to detailed examination by the National Audit Office and, subsequently, the Public Accounts Committee.