§ Mr. SpearingTo ask the Secretary of State for Transport (1) if his proposals for legislation to permit London Regional Transport and its subsidiaries use of the private finance initiative include public notification of(a) tenders for any such scheme, (b) successful contracts and their financial details and (c) maximum period of their operation; [24440]
(2) if, in his proposals for legislation to permit London Regional Transport or its subsidiaries use of the private finance initiative, transfer of ownership to the successful bidders for any scheme or contract, of land, equipment or facilities will be permanent or for the period of the contract only; and if the period of that contract will be made public. [24441]
§ Mr. NorrisThe London Regional Transport Bill does not require London Transport or its subsidiaries to publish information about their projects under the private finance initiative. Invitations to tender will continue to be published where this is a legal requirement. I understand that London Transport will normally announce the award of such contracts, giving an indication of their value and duration where this information is not commercially sensitive.
When a contract ends, assets transferred from London Transport to the contractor at the beginning of the contract will generally be transferred to a new contractor, or will revert back to LT until a new contract can be let. Assets no longer needed by LT may remain with the contractor, and LT already has powers to make such disposals.