Transport written question – answered at on 5 September 2011.
To ask the Secretary of State for Transport what the net present value is of the proposal by Liverpool city council to pay £5.3 million to the Exchequer over 15 years for the purposes of permitting turnaround calls at Liverpool Cruise Terminal.
The net present value of the repayments, as of any revenue stream, depends on the base period and discount rate applied. Using a 5% nominal rate on a base one year before the first repayment, the net present value would be approximately £3.75 million.
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