§ Mr. BettsTo ask the President of the Board of Trade how many schemes and to what value have been approved in 1994–95 under the private finance initiative; what are the estimates for the current financial year; how many schemes are currently being considered and at what value; for how long they have been considered and how many have been in the assessment process for over(a) six months and (b) 12 months; and 669W what was the average length of time taken to assess schemes so far approved. [30820]
§ Mr. HeseltineMy Department has a number of major exercises underway which will involve the use of private sector finance in the delivery of services. Private finance is being used in the refurbishment of 1 Victoria street and the Radiocommunications Agency's relocation to docklands initiated in 1993–94 and 1994–95 respectively. No specifically PFI projects were approved during 1994–95. Procedures have recently been introduced to consider PFI for all DTI's capital projects but it is too early to estimate the number or value which may be approved in 1995–96. My Department is also pursuing a major programme of privatisation and contracting out involving almost all the executive agencies, which themselves account for around half of my Department.