§ Mr. Campbell-SavoursTo ask the Secretary of State for Transport what estimate he has made of the level of interest payments required to service the capital for the Dartford River Crossing Ltd. using(a) the interest rate set out in schedule 10 to the agreement with Dartford River Crossing Ltd. and (b) the interest rate which the Government would reasonably expect to pay if they had raised the capital themselves showing in both cases the size of interest payments for (i) each year of the project and (ii) the whole life of the project. [39019]
§ Mr. WattsI have asked the chief executive of the Highways Agency to write to the hon. Member.
Letter from Lawrie Haynes to Mr. D. N. Campbell-Savours, dated 24 July 1996:
The Secretary of State for Transport has asked me to reply to your recent question about the level of interest payments required to service the capital for the Dartford River Crossing Ltd.The likely level of interest payments necessary to finance Dartford River Crossing Ltd's proposals to design, build, finance and operate the new Queen Elizabeth II Bridge and to operate and maintain the existing Dartford Tunnels was considered as part of the overall financial and technical assessment undertaken in August 1986 when the decision was taken to procure this project in the private, rather than the public sector. For obvious commercial reasons, you will appreciate that the actual figures used in this assessment are confidential.