Asked by: Calum Miller (Liberal Democrat - Bicester and Woodstock)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the amount of Russian assets held by sanctioned individuals in the UK; and how much and what proportion of those assets have been recovered.
Answered by Tulip Siddiq - Economic Secretary (HM Treasury)
The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, announced in December that £22.7 billion in Russian Assets has been reported as frozen as of October 2023. This figure is provided in aggregate so as not to disclose the value of any funds held by particular designated persons and is a cumulative total of assets reported.
An asset freeze does not involve a change in ownership of the frozen funds or economic resources, nor are they transferred to HM Treasury. Any interest accrued on these assets is subject to the asset freeze, to be frozen immediately by the person in possession or control of them.
Asked by: Calum Miller (Liberal Democrat - Bicester and Woodstock)
Question to the Home Office:
To ask the Secretary of State for the Home Department, with reference to the contract for the development of a Immigration Removal Centre at the former Campsfield House site in Oxfordshire, if there are any options for either party to (a) cancel and (b) vary the contract; and if this contract applies only to phase one of the development.
Answered by Angela Eagle - Minister of State (Home Office)
As previously announced, the Home Office is proceeding with plans to open an Immigration Removal Centre (IRC) on the site of the former Campsfield House IRC.
The contract referenced relates to building works for Phase 1 of the development being undertaken at the site. This may be terminated at any time by the Home Office, or by the contractor in the event of a breach of the terms of the contract.
Regulation 72 of the Public Contracts Regulations (PCR) 2015 details the extent to which a contract can be amended after an award of contract.