§ Matthew TaylorTo ask the Secretary of State for Health what central monitoring his Department undertakes of value for money obtained in Private Finance Initiative projects; and if he will make a statement. [4460]
§ Mr. HuttonThe Department reviews all private finance initiative projects over £ million in value through the Business Case approval system. To be approved, the Business Case must clearly demonstrate that, overall, the private finance option is better value for money when compared to the publicly funded alternative, the Public Sector Comparator, and that it provides improved facilities for the national health service. NHS trusts are required to monitor performance throughout the lifetime of the PFI contract.
As a result of PFI, six major new hospitals have opened and another 17 are under construction, representing capital investment in the NHS of over £2 billion.