Partnerships UK

HC Deb 23 March 2001 vol 365 cc381-2W

Barbara Follett

To ask the Chancellor of the Exchequer if he will make a statement on his plans for Partnerships UK. [155722]

Mr. Andrew Smith

Partnerships UK was launched in June 2000 to build upon the success of the Treasury Taskforce and to provide a permanent and sustainable centre of expertise to continue the Treasury Taskforce's role in developing and expanding the Government's PPP programme.

The Treasury is currently seeking private investors for a 51 per cent. stake in Partnerships UK. The Treasury's aim is to raise at least £22.5 million through a sale of the shares on a competitive basis to qualifying institutions. Each potential qualifying investor is being invited to invest between £1 million and £5 million.

An Information Memorandum has been distributed to qualifying institutions in connection with this Offer for sale. Further information on the sale can be obtained from the publication copy of the Information Memorandum, which has been deposited in the Libraries of both Houses.