§ Ms Ruddock
To ask the Secretary of State for Transport (1) what is the developers' financial contribution to the extension of the Jubilee line in today's prices; and over what period it is due to be paid;
(2) what is the formulation of the agreement between the developers and the Department of Transport over contributions towards the construction of the Jubilee line extension; and if it is available in written form.
§ Mr. Portillo
In my right hon. Friend's answer of 16 November to my hon. Friend the Member for Hendon, South (Mr. Marshall)Official Report column 398, he said:The Jubilee extension will cost about £1 billion in today's prices to which developers over time will be making a cash contribution of over £400 million".
Of that sum just over £100 million will be paid within the next three years, with the balance to be paid in the years following the opening of the line, which is as yet an indeterminate date. The full total of contributions is not yet known as negotiations with some developers remain to be concluded.
The understandings to this effect, reached in recent months between the Department and developers, remain to be executed as legal agreements between LRT and those developers, and contain commercially confidential material.