PFI only to be used for best value for money

Published on Friday, 19 August 2011 12:47

Posted by Scott Buckler

The CBI today (Friday 19th August) commented on a report by the Treasury Select Committee on the Private Finance Initiative

Dr Neil Bentley, CBI Deputy Director-General, said:

“The Committee’s report is right to say lessons from the past need to be heeded, and PFI must only be used when it is appropriate and offers the best value for money.

“But with the state of the public finances, it is absolutely essential we attract the billions of pounds of private finance needed to upgrade our national infrastructure and boost jobs and growth.

“To do this, investors need confidence, and the Government must decide sooner rather than later how PFI will evolve, alongside a range of alternatives, such as Tax Increment Funding and Pension Fund Financing.

“It’s worth remembering that without PFI we would not have seen hundreds of much-needed hospitals, schools and homes delivered on time and within budget.”

Source: CBI