Q151 Mr Bacon: Right. So let us take an example that is close to home: the first Treasury building- Exchequer partnership No 1. Do you know the initial build cost of that?
Mr Abadie: Approximately £140 million.
Q152 Mr Bacon: No, that was the value of the bond. The construction cost was £118 million. So when you mention the £50 billion, you mean a number for each project that is analogous to the comparison of £140 million and £118 million in the case of the Treasury project.
Mr Abadie: No, when I refer to the £50 billion I mean the capitalised cost over the construction period, which includes interest during construction, inflation and a couple of other things.
Q153 Mr Bacon: I would like you to send us another note. Taking the Exchequer partnership number 1 example again, the annual unitary payment is £14,037,000, is it not?
Mr Abadie: I do not know.
Q154 Mr Bacon: That is indexed each year, so it has probably increased slightly since I obtained the information by way of a parliamentary question. It is about £14 million per year. If you multiply £14 million by the number of years of the contract, which from memory is 35, one gets £838 million. Can you send us a note with the same sum for each project, so that we can get the total amount of payments-in other words, the annual unitary charges multiplied by the total number of years, for all the projects?
Mr Abadie: We can do that.
Q155 Mr Bacon: It would be a lot higher than £50 billion, would it not?
Mr Abadie: Definitely. It is publicly available already.
Q156 Mr Bacon: Yes, but it would be nice to have it in one place.
Mr Abadie: It is in one place. It is in the Pre-Budget Report.
Q157 Mr Bacon: I would quite like it in our Report. When you send the note on the 750 projects, could you attach a column with those figures-the capital cost, and the cost in terms of the annual unitary charge multiplied by the number of years?6
Mr Abadie: We can do that by year. As I said, it is publicly available information.
Q158 Mr Bacon: Yes, but I would like you to send it to us, if you could.
Mr Kingman: We will want to be sure that anything we send is meaningful in today's money.
Q159 Mr Bacon: I am interested in the cash. If you want to put in extra stuff too, please do. You may want to explain why certain information would not by itself be meaningful, as you put it, but I should like the raw number-how much cash is going out the door-the "COTD", if you like. Mr Abadie, you work for PricewaterhouseCoopers, do you not?
Mr Abadie: I do.
Q160 Mr Bacon: How long have you been seconded to the Treasury?
Mr Abadie: I have been in the Treasury since the beginning of November 2004.
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