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WQ.294/2021
WRITTEN QUESTION TO THE MINISTER FOR INFRASTRUCTURE BY DEPUTY R.J. WARD OF ST. HELIER
QUESTION SUBMITTED ON MONDAY 14th JUNE 2021 ANSWER TO BE TABLED ON MONDAY 21st JUNE 2021
Question
Given that, in response to Oral Question 120/2021, the Minister stated that income generated by LibertyBus is returned to parent company HCT Group "as per the relevant clauses within the contract", will the Minister state how the return from LibertyBus to HCT Group is tracked by his Department, and what the annual returns have been since the beginning of the bus contract with HCT Group?
Answer
As with the previous contract dating from 2002 and awarded to Connex Bus UK, the 2013 Bus Operator Contract was commercially tendered in accordance with the States of Jersey's Financial Codes. The Contract provides mechanisms for the determination of payments and the reconciliation of accounts on an open-book basis.
As is normal in business, LibertyBus makes a financial return to the parent company which contributes towards group costs, which in turn generates benefits for LibertyBus through reduced shared service costs, purchasing scale, access to innovation, and further investment and expertise.
As with all Government of Jersey's commercial contracts, these provisions are privileged to the parties to the contract, and are considered commercially sensitive. HCT Group financial statements are available to view via their Annual Reports and published accounts webpage. LibertyBus is listed under the registered name 'CT Plus Jersey Limited'.