§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer if he will update the table 6.4 of the Financial Statement and Budget Report 1996–97 for the Private Finance Initiative, to show(a) outturns for each year from 1990–91 to 1995–96, (b) a comparison of the table 6.4 projections with outturns for 1996–97 and (c) comparisons of table 6.4 projections with current projections for 1997–98 and 1998–99. [19267]
§ Mr. Darling[holding answer 8 December 1997]: Table 1 shows latest figures for publicly sponsored capital expenditure. The differences between the latest figures and the projections for 1996–97 to 1998–99 shown in both the Financial Statement and Budget Report 1996–97 (published in November 1995) and the Financial Statement and Budget Report 1997–98 (published in November 1996) are given in table 2.
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Table 1: Public sector capital expenditure1 £ billion Outturn Projection 1990–91 1991–92 1992–93 1993–94 1994–95 1995–96 1996–972 1997–98 1998–99 Central government 9.6 10.3 10.9 9.8 9.1 8.7 7.1 6.0 6.9 Local authorities3 5.9 7.0 7.2 6.7 7.3 7.2 6.4 6.8 7.1 Public corporations4 2.0 2.0 3.6 3.4 4.2 4.7 4.4 4.7 4.3 Notional allocation of the Reserve — — — — — — — — 0.2 Total public sector capital expenditure 17.5 19.3 21.6 19.9 20.6 20.6 17.9 17.6 18.6 Estimated capital expenditure under the Private Finance Initiative — — — 0.1 0.2 0.4 1.0 2.7 3.7 Total publicly sponsored capital expenditure 17.5 19.3 21.6 20.0 20.8 21.0 18.9 20.3 22.3 Memo: Public sector capital5 gross of depreciation 20.7 21.6 23.5 21.3 21.7 21.3 18.0 17.6 18.4 net of depreciation2 9.7 11.8 14.2 12.1 12.1 11.2 8.6 8.2 8.9 1 Figures are shown for the national accounts definition of capital spending (including expenditure out of the proceeds of the National Lottery). See paragraph 5A.10. 2 Outturn figures for 1996–97 are not yet final and will be subject to revision. 3 The figure for local authority capital spending in 1997–98 corrects that used in preparing figures for the Pre-Budget Report. Cm 3804, which was £0.3 billion too high. The figure for net capital spending in Table B1 of the Pre-Budget Report is therefore inconsistent with the figure shown here for public sector capital expenditure net of depreciation. 4 Excluding the capital expenditure of industries privatised or planned to be privatised before 31 March 2000. 5 Including industries now privatised while they were in the public sector.
Table 2: Public sector capital expenditure: changes £ billion Differences since FSBR November 1995 Differences since FSBR November 1996 1996–97 1997–98 1998–99 1996–97 1997–98 1998–99 Central government -1.0 -1.7 -0.6 0.2 -0.2 — Local authorities -0.1 0.7 1.2 -0.9 0.5 1.2 Public corporations3 -1.2 -0.6 -0.7 -1.1 -0.4 -0.2 Notional allocation of the Reserve -0.2 -0.5 -0.6 — -0.2 -0.3 Total public sector capital expenditure -2.5 -2.2 -0.7 -1.8 -0.4 0.7 Estimated capital expenditure under the Private Finance Initiative -0.9 0.1 1.0 -0.1 0.2 — Total publicly sponsored capital expenditure -3.5 -2.1 0.3 -1.9 -0.2 0.8