Mr. Alan WilliamsTo ask the Secretary of State for Social Security if he will list the PFI contracts entered into by his Department, indicating(a) their dates of commencement, (b) their value, (c) if they have been subject to refinancing and (d) if his Department has a claw-back entitlement to share in savings arising from refinancing. [129057]
§ Mr. RookerThe PRIME (Private Sector Resource Initiative for Management of the Estate) contract, commenced on 1 April 1998. It has an estimated private240W sector capital spend value of £350 million. It has not been subject to refinancing and has no specific refinancing share mechanism, but does provide for possible sharing of windfall gains and profits, including benefits from refinancing, made in the first five years.
The ACCORD (Access to Corporate Data) project has so far progressed to signature of four Services Agreements, which are contractual vehicles to enable the Department to award specific PFI/PPP contracts in future. None of the Service Agreements contains a monetary value, but the projects estimated private sector capital spend value is £100 million. No contracts yet exist, and contract negotiations will include possibilities for sharing in future savings.