Capital Projects: Spending

Baroness McIntosh of Hudnall Excerpts

Thursday 26th October 2023 Lords Chamber

[Baroness Swinburne (Con)]

I apologise to the noble Baroness because I do not know the answer to that. I will get back to her in writing.

[Baroness McIntosh of Hudnall (Lab)]

My Lords, in an earlier answer the Minister used the term reprofiling. Could she assist us by telling the House how reprofiling is defined by His Majesty’s Treasury?

[Baroness Swinburne (Con)]

I am not an expert and I am not the Minister for the department, but I will do my best to explain to the noble Baroness. The reprofiling is where the project has been delayed and therefore the money moves on to the next budget cycle. There are certain areas where it is not appropriate for it to be moved on to the next budget cycle. One of those is the Help to Buy scheme, which was coming to an end, and so any underspend was because it was coming to its termination; therefore it was not suitable for that to be reprofiled into the next budget cycle.