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Crown Agents Holding and Realisation Board (Prescribed Day) Order 2008

I shall start by answering the question asked by the noble Lord, Lord Roberts, about job losses. I thank him for his remarks wishing the order well. As far as I am aware, there will be no job losses. I shall come to his second point when I address the questions asked by the noble Baroness, Lady Rawlings. I thank the noble Baroness for her remarks and for wishing the order well. She asked why no decision had been made on contracting out. No formal decision has been taken, but it is very likely that the work will be contracted out to Crown Agents. We wanted to ensure that Parliament had a good opportunity to look at this order before coming to a final decision. As I said in my opening statement, the Crown Agents’ staff have been working for the board for some time. The noble Baroness also asked who would pay the costs. As I understand it, they will be met from revenue. I was also asked whether DfID would profit from transferred assets. Within the provisions of the Treasury’s consolidated budgeting guidance, DfID will retain cash realised within the capital departmental expenditure limits agreed in the Comprehensive Spending Review. I am looking to see if I have answers to any other questions that were asked. The 1979 Act, as I recall, in effect—I choose my words carefully—wrote off the £175 million. In that sense, that is no longer a book liability. I am looking to the officials for confirmation of that. The Explanatory Memorandum mentions it; the Act, as it were, wrote off that sum. The sum might be a book sum, but it does not exist in practical terms. Will the proceeds go to the Consolidated Fund? Yes, they will. I think that I have covered most of the questions. If there are any more, will Members of the Committee please come back to me?