LONDON — One of the main options for restoration of the Palace of Westminster could cost £15 billion, a member of the House of Lords has claimed.
MPs and peers are currently waiting for the latest official costings attached to different options for a major project to refurbish the crumbling parliamentary estate.
The figures were due to be published by Christmas but will now be released in the new year, after which parliamentarians will be asked to approve preparatory works.
However, Michael Forsyth, a long-serving Conservative peer currently standing for the position of House of Lords Speaker, announced the anticipated cost at a recent hustings.
He told peers “the latest proposal would cost £15 billion” before adding: “I believe that’s secret, by the way.”
Two people with knowledge of the proposals told POLITICO they believed the figure cited by Forsyth was accurate, but sat within a range of official estimates. One said the upper estimate was likely to be higher.
Forsyth was referring to the plan known as “full decant”, under which MPs and peers would move out of parliament to another location for several years while works including asbestos removal and rewiring are carried out.
Successive governments have delayed the wholesale renovation of parliament amid fears of a public backlash over the cost. It was estimated at between £7 billion and £13 billion in 2022, but has since risen.
Forsyth’s remarks at the hustings, where he faced off against crossbencher Deborah Bull, were recorded in full for a podcast by the Hansard Society.
He asked why the numbers had not been released, saying: “Why is it secret? £15 billion of people’s money. What do you think Reform and Nigel Farage are going to make of that in the run-up to the election, with politicians being unpopular and House of Lords and everything else?”
He said “there are all kinds of questions that need to be asked” before “the House is surrounded by scaffolding for 15 or 20 or 25 years.”
Proponents of full decant argue it is the safest and most cost-effective option, and would last 19 to 28 years, compared with an estimated 48 years to 76 years if lawmakers remain on the site during reconstruction.
A U.K. parliament spokesperson said: “We are working to bring costed proposals to both Houses in the new year detailing costs, timescales, risks and benefits of the delivery options.
“Costs vary across the delivery options and therefore a range of costs will be in the report. The proposals will include recommendations to members of both Houses on the way forward.”
Noah Keate contributed to this report.
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