2015 Report details for project: ICR Monetisation
| Project name | ICR Monetisation - there are 4 reports for this project: 2014, 2015, 2016, 2017 |
|---|---|
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| Contracts | Contracts search (opens in new window) - under development |
| Organisation | BIS (D3) - see all reports for this organisation |
| Report year | 2015 (data is from September 2014) |
| Category | Transformation - see all reports for this category |
| Description: | HM Government is carrying out a programme of asset sales with the purpose of reducing Public Sector Net Debt (PSND). The Government has announced intentions to sell the pre-Browne Income Contingent Repayment (ICR) student loan book to contribute to this objective and to realise value to the taxpayer. This loan book will be sold in a series of tranches over a number of years. The first tranche of loans is expected to be sold by 2015-16. As is normal with transactions of this type, there will be a value for money assessment made before each sale. Each sale is required to meet the value for money assessment as well as other key project objectives to be considered a success. Failure to meet objectives will result in a decision not to sell. |
| DCA (RAG) | Amber |
| DCA text: | Work is on-going to inform Governments decision on a potential first sale from the loan book but there are no plans for a sale in this Parliament. |
| Start date | 2010-03-01 |
| End date | 2018-12-31 |
| Schedule text | Work is on-going to inform Governments decision on a potential first sale from the loan book but there are no plans for a sale in this Parliament |
| Baseline | £6.96m |
| Forecast | £3.88m |
| Variance | -44.30% |
| Variance text: | The project will spend less than originally forecast in 2014/15 due to the Ministerial decision not to proceed with the sale this year. |
| Whole Life Cost | £29.48m |
| WLCost text: | Data not provided by department |
| Notes1: | |
| Notes2: | |
| Sourcefile | IPA_2015.csv |
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Acknowledgement: GMPP data has been re-used under the Open Government Licence.