44 Commitments


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(i) Capital commitments

 

2008
£m

2007
£m

Authorised and contracted commitments not provided for in respect of investment property development, payable after 31 December

 

 

– Long term business

35

158

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(ii) Operating lease commitments

 

2008
£m

2007
£m

The future aggregate minimum lease payments under non-cancellable operating leases are as follows:

 

 

– Not later than 1 year

34

25

– Later than 1 year and not later than 5 years

130

122

– Later than 5 years

333

363

 

497

510

Future aggregate minimum sublease payments expected to be received under operating subleases

10

8

The future aggregate minimum lease receivables under non-cancellable operating leases are as follows:

 

 

– Not later than 1 year

2

2

– Later than 1 year and not later than 5 years

10

6

– Later than 5 years

3

1

 

15

9

The [Group] leases offices and other premises under non-cancellable operating lease agreements. The leases have varying terms, escalation clauses and renewal rights.

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