Private Finance Initiative (Hansard, 2 March 2004)
HC Deb 02 March 2004 vol 418 cc822-3W
Mr. Tyrie

To ask the Chancellor of the Exchequer what contribution was made to each of the figures in Table B5 of the pre-Budget report 2003 by Private Finance Initiative or associated schemes that have been accounted for on the balance sheet of the public sector client; and whether the data underlying Table B5 are updated when a particular Private Finance Initiative scheme subsequently moves on-or off-balance sheet to the public sector client. [156158]

Mr. Boateng

The assumptions used for the spending projections underlying Table B5 are set out in paragraph B27 on page 208 of the pre-Budget report. Current and capital expenditure under PFI contracts is fully recorded in the expenditure rows of Table B5, and hence in the fiscal aggregates consistent with independently set accounting and reporting standards. Accordingly, these tables will fully reflect the balance sheet treatment of assets once this treatment has been determined.

PFI contracts where the assets concerned are on departmental balance sheets are reported in departmental accounts, together with disclosure of information relating to any contracts assessed as off balance sheet.

GLOBAL ISLES COURT OF RECORD