Extract from Commons debate on Restoration and Renewal of the Palace of Westminster - July 12

Sir Geoffrey Clifton-Brown (The Cotswolds) (Con):...The project’s cost is estimated by several experts as approximately £10 billion—somewhere between the £8.77 billion cost of the Olympics and the £18.25 billion cost of Crossrail. It is a vast and complex project. I know such projects only too well from my role as deputy Chairman of the Public Accounts Committee and a member of the Finance Committee. I am glad that the Chairs of those Committees, the hon. Member for Hackney South and Shoreditch (Dame Meg Hillier) and the right hon. Member for Newcastle upon Tyne East (Mr Brown), are present; they both do a splendid job. On almost a weekly basis, we see large Government projects that end up costing hundreds of millions of pounds more than anticipated. The AJAX defence vehicle project, for example, has already cost £3.2 billion, has not delivered a single workable vehicle and is more than 10 years late. My fear is that the restoration and renewal project could go the same way. Governance on such large projects is paramount to ensuring that they are delivered on time and on budget...