45 Commitments

(i) Capital commitments

 

2014
£m

2013
£m

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

 

 

– Long term business

119

193

(ii) Operating lease commitments

 

2014
£m

2013
£m

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

 

 

– Not later than 1 year

29

30

– Later than 1 year and not later than 5 years

102

103

– Later than 5 years

477

468

 

608

601

 

 

 

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

181

157

 

 

 

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

 

 

– Not later than 1 year

405

342

– Later than 1 year and not later than 5 years

1,389

1,167

– Later than 5 years

4,156

3,489

 

5,950

4,998

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