§ Mr. ButlerTo ask the Secretary of State for Defence what progress has been made with the development of plans for transfer of the married quarters estate to the private sector.
§ Mr. SoamesIt is too early to be confident that such a transfer will be possible on terms which will satisfy our requirements. Nonetheless, the initial work undertaken for us by NatWest Markets, the investment bank, has been productive and encouraging. We therefore now intend to progress to development of comprehensive proposals aimed at achieving the transfer in financial year 1995–96. A decision on whether to proceed will not be taken until worked-out proposals are available in the first part of next year. Meanwhile, however, following completion of the initial study, we are proceeding to competitive selection of financial and other advisers to help us prepare for and effect the transfer.