Private Finance Initiative

HC Deb 01 May 1996 vol 276 cc552-3W

Ms Janet Anderson

To ask the Secretary of State for Northern Ireland if he will list the revenue spending estimated by his Department in connection with the private finance initiative for(a) 1995–96, (b) 1996–97 and (c) 1997–98. [26628]

Sir John Wheeler

No specific PFI contracts have as yet been agreed and signed but the procurement process has begun across a range of projects including water and sewerage, roads, transport, health, education, accommodation and information technology schemes. As a consequence, it is too early to estimate the revenue spending in connection with these projects.

The private investment levered in to date in Northern Ireland relates mainly to the Laganside development, housing and urban regeneration. The public sector contribution associated with these projects is as follows:

• 1995–96: £70 million
• 1996–97: £61 million
• 1997–98: £60 million.