§ Mr. Russell BrownTo ask the Chancellor of the Exchequer if he will publish figures showing(a) the total updated value of private sector investment in the period covered by the Financial Statement and Budget report, March 1999, resulting from PFI projects and (b) the public spending commitments from 1999–2000 onwards resulting from PFI projects signed or expected to be signed by the end of the Comprehensive Spending Review period. [104124]
§ Mr. Andrew SmithThe figures are set out in the tables:
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Table A: Estimated capital spending by the private sector £ million 1998–99 1999–2000 2000–01 2001–02 Scotland 219.0 404.0 464.0 120.0 Wales 53.0 90.0 87.0 37.0 Northern Ireland 12.0 36.0 99.0 78.0 Chancellors' Departments 98.0 91.0 34.0 104.0 Local Authorities4 287.0 603.0 993.0 886.0 Total 2,197.0 3,727.0 4,214.0 3,003.0 1Includes Forestry Commission. 2Includes the private sector capital investment in CTRL. 3 Excludes PF1/PPP activity in the further and higher education (FHE) sectors, which are classified to the private sector. For FHE, the total estimated capital value of major PFI/PPP projects which have been signed or expected to sign is £54 million in 1999–2000 and £152 million in 2000–01. 4PF1 activity in local authority schools is included in the local authorities line.
Table B: Estimated payments under PFI contracts— December 1999 £ million 1999–2000 1,167 2000–01 1,787 2001–02 2,219 2002–03 2,624 2003–04 2,885 2004–05 2,940 2005–06 2,903 2006–07 2,920 2007–08 2,925 2008–09 2,816 2009–10 2,796 2010–11 2,736 2011–12 2,672 2012–13 2,557 2013–14 2,495 2014–15 2,376 2015–16 2,156 2016–17 2,118 2017–18 2,084 2018–19 2,000 2019–20 1,991 2020–21 2,006 2021–22 1,950 2022–23 1,959 2023–24 1,833 2024–25 1,808 2025–26 1,517 2026–27 1,236 Note
Table B shows a forecast of the estimated payments for services flowing from new private investment over the next twenty five years. Actual expenditure will depend on the details of the payment mechanism for each contract. Payments may be lower than estimated due to deductions from the service payments caused by either the supplier's failure to make the service available or a failure to meet the required performance standards. In addition variances may occur due to changes in the service requirements agreed during the course of the contracts. Payments may also vary as a result of the early termination of a contract triggering contractual arrangements for compensation on termination.