DIFFERENCES BETWEEN PAC RETURN AND SIGNED DEALS LIST

The current signed deals list on the Treasury website is an historical record of all PFI projects that have signed. It has been added to over time as new deals have signed. However, this is the first time an overall reconciliation exercise has been conducted for these figures to establish the current operational portfolio of PFI projects. This will allow us to revise and update the signed deal list, since:

-  some projects have concluded or been terminated;

-  some projects have contractual structures that means they are no longer classed as PFI; and

-  some projects have been contractually merged.

In addition there are some new projects which have been signed since the last signed deals list was published in December 2006.