HC Deb 14 June 1994 vol 244 cc428-9W
Mr. Milburn

To ask the President of the Board of Trade, pursuant to his answer of 5 May,Official Report, column 604, if he will provide such information as is available on the cost of employing consultants in connection with privatisation programmes.

Mr. Heseltine

[holding answer 13 May 1994]: The Comptroller and Auditor General frequently reports on privatisations under section 9 of the National Audit Act 1993 and in doing so generally includes information on the costs of advisers—which may include consultants, legal, financial and other advisers. Since 1993, the following figures have appeared in such reports relating to privatisations undertaken by the DTI and the former Department of Energy:

Reference and subject Costs of advisers £ million
1993–94
HC59 The Sale of the British Technology Group 12.80
1992–93
HC10 The Sale of the Twelve Regional Electricity Companies 228.8
HC46 The Sale of National Power and PowerGen 217.2
1989–90
HC210 Sale of Government Shareholding in British Steel plc 15.6
1987–88
HC22 Sale of Government Shareholding in British Gas plc 35.0
1987–88
HC243 Sale of Government Shareholding in Rolls-Royce plc 32.2

Reference end subject Costs of advisers £ million
1984–85
HC495 Sale of Government Shareholding in British Telecommunications plc 36.0
1 Advisers' fees.
2 United Kingdom advisers' fees.
3 Fees to advisers in respect of the United Kingdom offer.