Private Finance Initiative

HC Deb 16 May 1996 vol 277 c565W

26. Sir Sydney Chapman

To ask the Chancellor of the Exchequer if he will report progress on the private finance initiative. [28515]

Mr. Jack

Some £4.76 billion of agreed private finance initiative deals were announced in 1995–96, and a further £300 million were at preferred bidder stage. The total of agreed, announced projects has now risen to £4.92 billion with the announcement of a preferred bidder for the Croydon tramlink project. More than £300 million more of deals are due to be agreed in the next few weeks.

On 3 April, I announced the publication of new procurement guidelines, to smooth the procurement process, with case studies of two prisons built under the PFI. To assist further the development of the private finance initiative, a training course was introduced last in January. So far, nearly 1,400 civil servants have either received training or are committed to attend future courses.