§ Mr. BercowTo ask the Chancellor of the Exchequer what estimate he has made of the total savings to public funds of the Public-Private Partnership with Siemens Business Services for the Department of National Savings by comparison with a non-Private Finance Initiative alternative. [49503]
§ Mr. Andrew SmithThe Public Private Partnership with Siemens Business Services (SBS) delivers full operational service to National Savings and Investments (NS&I) and its customers.
773WThe cost of delivery of the operational service from SBS is at least £157 million less than the public sector comparator, assuming the contract runs for its 15 year life.
The finances were clearly set out in the contract. NS&I expenditure on this contract remains as originally negotiated and reported to the PAC.
§ Mr. BercowTo ask the Chancellor of the Exchequer how many Private Finance Initiative projects have been subject to refinancing after the contracts have been signed; and what has been the financial effect in each case. [50278]
§ Mr. Andrew SmithComprehensive records of refinanced PFI contracts are not held centrally. No Treasury PFI projects have been refinanced.