§ Llew SmithTo ask the Secretary of State for Defence if he will make a statement on the timing of his placing in the Library his departmental minute on the sell-off of QinetiQ to the Carlyle Group. [91962]
§ Dr. MoonieOn 5 December 2002, immediately after the key terms for the sale of a stake in QinetiQ were agreed with the purchaser, I announced the details to Parliament. Following this, and in accordance with government accounting rules and in line with normal departmental practice, officials prepared a departmental minute describing the contingent liabilities accepted by the Ministry of Defence as part of the transaction. This was formally laid before Parliament on 17 December.
Members have 14 sitting days to raise any objections to the proposals detailed in the minute and this period ends on 23 January 2003.
§ Mr. Peter DuncanTo ask the Secretary of State for Defence what the composition was of the financial payment made to QinetiQ on its post-privatisation; how much was paid in respect of(a) staff pensions, (b) termination of prior contracts and (c) other issues.[92293]
§ Dr. MoonieNo such payments have been made to QinetiQ. Certain contingent liabilities in relation to staff pensions and to contract termination remain with the Ministry of Defence, and these were described in the departmental Minute laid before Parliament on 17 December 2002.
§ Llew SmithTo ask the Secretary of State for Defence if he will make it his policy to postpone to go-ahead with the sale of QinetiQ to the Carlyle Group until Parliament has an opportunity to evaluate and debate the proposals set out in his departmental minute of 17 December 2002. [92300]
§ Dr. MoonieNo. To date, we have received no substantive objections which would justify either a delay in the sale process or a Parliamentary debate. However, we will, of course, continue to give proper consideration to any specific points raised in relation to the issues covered in the Departmental Minute laid before the House on 17 December 2002.