Response to the Government's Infrastructure Strategy: "The commitment to new PPPs is welcome and long overdue"
Responding to the Government’s 10 Year Infrastructure Strategy, Lord Hutton, the former cabinet minister who now chairs the Association of Infrastructure Investors in Public Private Partnerships, (AIIP) said:
“The commitment to develop new public private partnerships (PPPs) to build and rebuild our NHS and public infrastructure is welcome and long overdue.
"There is now an opportunity for an honest dialogue between government and investors on how to develop the best model for PPPs, which the NAO noted are more likely to deliver on time and on budget.
"We need to learn the lessons from the past, to reduce complexities and ensure value for money for taxpayers. That includes a process for dealing with the £5bn of assets that are due to be handed back this Parliament, ensuring that contracts are either extended, or the handback is smooth to protect services for the public.”
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The AIIP is the voice of Britain’s infrastructure investors in Public Private Partnerships (PPPs).
Today in Parliament, the Treasury Minister Darren Jones announced Government will work with industry to explore the targeted use of PPPs learning lessons from past.
Frequently asked questions about PPPs: https://www.aiip.org.uk/faq
139 PFI contracts, worth over £5 billion, are set to expire during this parliament (AIIP research).