Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

HMRC Closures — [Philip Davies in the Chair]

Part of Backbench Business – in Westminster Hall at 2:54 pm on 2nd November 2017.

Alert me about debates like this

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 2:54 pm, 2nd November 2017

The cost savings are for an investment of £552 million over 10 years. Firstly, they arise through the avoidance of future costs that would be incurred in the event of our not going ahead with the programme. Those would be the costs of the PFI deal, were we to continue with it. That cost is £75 million per annum—obviously from 2021, when the contract for strategic transfer of the estate to the private sector comes to an end. There is a cost saving of £300 million in the 10 years to 2025. That gives an annual cash saving, as compared with 2016-17, of £74 million in 2025-26, rising to about £90 million in 2026-27.[This section has been corrected on 27 November 2017, column 2MC — read correction]