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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Organisation: BIS (D3) - see all reports for this organisation
Report year: 2015 (data is from Sept 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 Government’s 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 Government’s 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.