Select Committee on Public Accounts Minutes of Evidence


Annex 1

ANALYSIS OF ANSWERS TO QUESTIONS FROM THE RT HON ALAN WILLIAMS MP (SWANSEA, WEST) (LABOUR) ON PFI REFINANCING ARRANGEMENTS

Department
Number of PFI Contracts
Aggregate capital value of PFI Contracts £m
Number of PFI contracts which have been subject to refinancing
PFI contracts with clawback entitlement to share in refinancing gains
  
  
  
  
Number
Capital Value £m
Agriculture, Fisheries and Food
1
—1
None
Cabinet Office
Defence
30
1,550
None
9
826
DCMS
1
10
None
DETR
212
6,6551
None
2
4,3833
Education and Employment
3
126
None
FCO
3
158
None
Home Office (including Prison Service)
15
986
24
—5
International Development
Law Officers (Solicitor General)
Lord Chancellor
66
1835
None
3
108
NHS
187
1,375
None
98
599
Northern Ireland
Social Security
1
350
None
1
350
Trade and Industry
3
164
None
Treasury
1
118
None
1
118
Wales
2
158
None
Totals
105
11,833
2
25
6,384
1  Contract includes no capital expenditure.

2  Includes seven contracts with a total capital value of £1,245 million which were not let by the department but which required the approval of DETR Ministers.

3  Includes Channel Tunnel Rail Link (capital value £4,178 million).

4  The refinancings were in respect of the PFI contracts for the Fazakerley prison (capital value £88 million) and the Hassockfield Secure Training Centre (capital value £10 million).

5  Although there was no contractual clawback arrangement on the Fazakerley prison PFI contract, the Prison Service secured a negotiated share of £1 million of the refinancing benefits.

6  Includes two contracts for magistrates' courts with a capital value of £43 million let by local authorities with the support of the department.

7  Based on NHS central records of PFI projects with a capital value of at least £25 million.

8  A further four contracts do not have clawback arrangements but have been financed by bond issues where the NHS considers a refinancing is unlikely.

National Audit Office




 
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