Chamber and committees

Questions and answers

Parliamentary questions can be asked by any MSP to the Scottish Government or the Scottish Parliamentary Corporate Body. The questions provide a means for MSPs to get factual and statistical information.

Written questions must be answered within 10 working days (20 working days during recess)
Other questions such as Topical, Portfolio, General and First Minister's Question Times are taken in the Chamber

Urgent Questions aren't included in the Question and Answers search. There is a SPICe fact sheet listing Urgent and emergency questions.

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Question reference: S2W-31070

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive whether any of the refinancing gain arising from the refinancing of the Hairmyres Hospital PFI project has been retained by the private sector to compensate for a lower rate of return than that expected at bidding stage.

Question reference: S2W-31059

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive what percentage of NHS Lanarkshire’s income the annual charge arising from the Wishaw General Hospital PFI project represents and how that has changed as a result of the refinancing.

Question reference: S2W-31055

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive whether any equity shares in the Wishaw General Hospital PFI project have changed hands since financial close.

Question reference: S2W-31074

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive whether the refinancing of the Hairmyres Hospital PFI project resulted in any change in risk allocation and termination liabilities and, if so, how the additional risks have been priced.

The refinancing of Hairmyres Hospital inAugust 2004 provided an opportunity for both Prospect and NHS Lanarkshire towork in partnership and capture the considerable benefits from the reducedrisks inherent in the project following the successful completion ofconstruction and the experience gained of operating the hospital.

There are three distinctcategories of termination. These are client default/voluntary termination, forcemajeure; and contractor default.

Under each of these, thereare defined liabilities that the board is contracted to pay in the event theConcession Agreement terminates. The contractual definition of theseliabilities did not change post refinancing. The first of these is consideredto be within NHS Lanarkshire’s control. The second is essentially outwitheither NHS Lanarkshire’s or the contractor’s control. Based on Prospect’s (thecontractor), and their bankers’ commitment to the project and the due diligenceundertaken by the bankers in agreeing the refinancing, the probability ofdefault by the contractor was considered to be low.

The potential terminationliabilities under these scenarios were subjected to a detailed value for moneyanalysis and scenario modelling which focused on the trade off between a potentialincrease in liabilities and NHS Lanarkshire’s share of refinancing gain. Thisanalysis suggested that there needs to be a high probability of contractordefault before the VFM was eroded. Whilst there were some consequential changesto the termination sums under contractor default, the termination sum payableunder such a default scenario is expected to be lower than had the refinancingnot taken place.

The refinancing agreementincreased the amount of borrowing by £20.4 million and the total debt is repaidover a longer time period. However, the actual sum paid at termination would bedetermined by the actual date of termination.

he refinancing providedsubstantial financial gain for NHS Lanarkshire and was undertaken in line withthe Code of Conduct issued by the Office of Government Commerce in July 2002. PartnershipsUK (PUK) Refinancing Task Force confirmed the business case complied with theterms of the code.

Question reference: S2W-31058

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive what annual payments are to be made to the Hairmyres Hospital PFI consortium over the contract term and how these changed as a result of the refinancing.

Question reference: S2W-31051

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive how much capital was raised by the Wishaw General Hospital PFI consortium to deliver that project, broken down into (a) equity, (b) subordinated debt and (c) senior debt.

Question reference: S2W-31063

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive what the (a) percentage capital growth and (b) total capital gain has been on investors’ investment in the Wishaw General Hospital PFI project.

Question reference: S2W-31057

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive what annual payments are to be made to the Wishaw General Hospital PFI consortium over the contract term and how these changed as a result of the refinancing.

The following table shows theestimated annual payments to be made to the Wishaw General Hospital PFI consortiumover the current contract period.

Year	Amount (£ Million)	Year	Amount (£ Million)	Year	Amount (£ Million)	Year	Amount (£ Million)
2004-05	22.5	2011-12	25.3	2018-19	28.3	2025-26	31.5
2005-06	23.1	2012-13	25.7	2019-20	28.7	2026-27	32.0
2006-07	23.4	2013-14	26.1	2020-21	29.2	2027-28	32.5
2007-08	23.8	2014-15	26.6	2021-22	29.6	2028-29	33.0
2008-09	24.2	2015-16	27.0	2022-23	30.1	2029-30	33.5
2009-10	24.6	2016-17	27.4	2023-24	30.6	2030-31	34.1
2010-11	25.0	2017-18	27.8	2024-25	31.0	2031-32	5.8

The Wishaw General Hospital PFIProject has not been subject to refinancing.

Had the hospital been procuredby a traditional procurement route additional annual costs would be incurred includingcapital charges and costs for the provision of hard and soft FM services.

Question reference: S2W-31071

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive whether the refinancing of the Wishaw General Hospital PFI project has changed the contract length from financial close and, if so, what the change has been.

Question reference: S2W-31053

Asked by: Alex Neil, MSP for Central Scotland, Scottish National Party
Date lodged: Tuesday, 16 January 2007
Current Status: Answered by Andy Kerr on 29 January 2007

To ask the Scottish Executive who the equity providers were for the Wishaw General Hospital PFI project.

	(£ Million)
Senior Debt	135.555
Subordinated Debt	11.759
Equity	0.100
Total	147.414