Written question asked by Iain Duncan Smith (Conservative) on Tuesday, 13 March 2001, in the House of Commons. It was due for an answer on Thursday, 5 April 2001. It was answered by Geoffrey Hoon (Labour) on Thursday, 5 April 2001 on behalf of the Ministry of Defence.

Ministry of Defence

Question: To ask the Secretary of State for Defence, in what circumstances his Department will be reimbursed by the Treasury in the event of (a) a delay in and (b) cancellation of the New DERA flotation. - Inc figure. (Holding answer 16 March 2001).

Answer: Mr. Duncan Smith: To ask the Secretary of State for Defence in what circumstances his Department will be reimbursed by the Treasury in the event of (a) a delay in and (b) cancellation of the New DERA flotation. [154164] Mr. Hoon: [holding answer 16 March 2001]: The Ministry of Defence will receive a credit to the Defence Budget of at least £250 million in financial year 2001-02 in respect of the Public Private Partnership for DERA. This does not depend on whether the transaction has taken place, nor does the amount give an indication of the likely value of New DERA.

Secondary information

Type: Written question
Reference: 366 c246W; 154164
Session: 2000-01
Subjects: Defence Finance Privatisation Public private partnerships Defence Evaluation and Research Agency
Contains statistics: Yes
Link: View this Written question on www.publications.parliament.uk