§ Llew Smith
To ask the Secretary of State for Trade and Industry what the cost of creating and operating the Liabilities Management Unit has been to date; and what the projected cost of the LMU until its dissolution is. 
§ Ms Hewitt
Between 1 April and 30 September 2002, my Department spent £4.26m on setting up and running the Liabilities Management Unit. I expect the full cost for the 02–03 financial year to be around £10.9m. Similar annual expenditure is expected in the run up to the establishment of the Liabilities Management Authority.