§ Mr. BercowTo ask the Chancellor of the Exchequer what steps he is taking to increase value for money in private finance initiative projects. [20464]
§ Mr. Andrew SmithPublic-private partnership (including private finance initiative) projects are used where they offer better value for money than alternative procurement approaches. By providing better value (through innovation and better management of risks), the Government can deliver more public services, more quickly and to a higher standard than with public sector investment alone
Significant improvements have been made to PFI since 1997, and the process is kept under review to ensure that lessons learned (including from NAO and PAC reports) are disseminated to Departments and other public authorities. The Office of Government Commerce (OGC), supported by Partnerships UK (PUK), is currently revising the guidance on Standardisation of PH Contracts first published in 1999. The OGC is working with Departments to improve their delivery of all procurement projects, while PUK support is available for PPP projects in particular