HC Deb 22 April 2004 vol 420 c663W
Mr. Hammond

To ask the Secretary of State for Defence what provisions were included in the transfer of Defence Evaluation and Research Agency assets to QinetiQ for clawback in respect of development land sales; and what sums are expected to be clawed back in respect of the sale by QinetiQ of the former MoD Longcross site at Chertsey. [165869]

Mr. Caplin

All of the freehold sites transferred to QinetiQ at Vesting of the Company were subject to a clawback agreement.

The total receipts from the disposal of the Chertsey site, of which the Longcross test track site forms a part, are unlikely to be fully realised for several years and it is therefore difficult to anticipate what sums, if any, will accrue to MOD from the clawback provisions.

Approximately the first £50 million of receipts from this site secures a loan made by MOD to QinetiQ, and this sum will therefore be paid back to MOD as QinetiQ receives the sums from the purchaser.

Forward to