Mr. Alan WilliamsTo ask the Secretary of State for Education and Employment 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. [129047]
§ Mr. WillsThe Employment Service has entered into three Private Finance Initiative contracts since 1997. It has established private finance deals for the delivery of procedural guidance via networked personal computers, for the delivery of all IT and related services, and for pay and personnel records. These are listed in the following table:
£ million PFI contract Commencement date Capital value ESCOM February 1997 4.0 IT Partnership May 1998 116.0 HR Partnership January 1999 5.8 The commencement date is the date of financial close.
None of these contracts has been subject to refinancing, although there is provision in the IT partnership contract for refinancing. There is no claw-back entitlement to share in savings arising from refinancing of this project. If any refinancing were proposed, the parties would be required to negotiate suitable terms.