Recommendation 13

The Department expects to spend £5.1 billion over the 25-year lifetime of the DEO Portfolio to 2040. In 2021, it resolved the medium-term funding shortfall in the Portfolio— caused by the government’s 2018 decision to withdraw the private finance model—and has committed to a budget of £4.3 billion over the 10 years to March 2031. This budget relies on the Department generating sales income of £2.2 billion between 2021–22 and 2039–40, which it can then recycle in the Portfolio.20