Palace of Westminster maintenance (2015)
The latest estimate of the cost of building works to Parliament between 2015 and 2020.
Please note that while the House of Commons and House of Lords are a separate public authorities for the purposes of the Freedom of Information Act, the management of building works is a bicameral service, so our response covers the whole of Parliament.
Parliament operates a four year planning cycle on a rolling basis. The cost of works and the budget required by Parliament to support works is articulated in the Medium Term Investment Plan (MTIP) and agreed annually by the respective House authorities in December. The current MTIP covers the period 2015/16-18/19 and is summarised below for the whole parliamentary estate.
Medium Term Investment Plan (£000s) :
Figures for 2019/20 are currently not held; they will be available when the 2016/17 MTIP is agreed.
All figures include VAT and risk and optimism bias. Risk and optimism bias is an allowance that caters for identified risks and other risks that cannot be identified at the budget setting stage, in line with Treasury recommendations. The figures also include adjustments for functional obsolescence as advised by the Valuations Office Agency and the capitalisation of the cost of internal staff who directly deliver capital projects.