2016 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: 2016 (data is from Sept 2015)
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 its intention 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 represent value for money and meet other key project objectives to be considered a success. Failure to meet objectives will result in a decision not to sell.
DCA (RAG): Amber/Red
DCA text: The first tranche sale has now been moved from a 15/16 timetable to 16/17.
Start date: 2010-03-01
End date: 2018-12-31
Schedule text: HMG has enhanced its intention to carry out a programme of sales over 5 years with a first sale expected to occur in 2016/17.
Baseline: £5.80m
Forecast: £5.80m
Variance: None%
Variance text: Budget variance less than 5%.
Whole Life Cost: £15.29m
WLCost text: Data not provided
Notes1: Budget variance less than 5%.
Notes2:
Sourcefile: IPA_2016.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.