Reform the Private Finance Initiative to get better value for money for the taxpayer

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Reform the Private Finance Initiative to get better value for money for the taxpayer

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The Private Finance Initiative is used to pay for major projects that have no public funds to pay for them. Hospitals, Schools and Toll Roads have been built using the scheme. The scheme works on the basis of getting the school or hospital now and paying for it gradually over next 20, 30 years.

Because private investors stump up the cash these projects cost a premium but the scheme allows this because the risk isn't with the tax payer. However the Imitative is in need of reform and private investors are adding a significant premium when they risk they have is very low.

The agreements under the current framework have been criticised for delivering poor value for money for the taxpayer. And for the lack of power or ability to renegotiate of Schools or NHS Trusts when things change.

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