Friday 19 Aug 2011 @ 12:25
WiredGov Newswire (news from other organisations)
Printable version E-mail this to a friend

CBI COMMENTS ON TREASURY COMMITTEE REPORT ON PFI

The CBI today commented on a report by the Treasury Select Committee on the Private Finance Initiative.

Dr Neil Bentley, CBI Deputy Director-General, said:

“The Committee’s report is right to say lessons from the past need to be heeded, and PFI must only be used when it is appropriate and offers the best value for money.

“But with the state of the public finances, it is absolutely essential we attract the billions of pounds of private finance needed to upgrade our national infrastructure and boost jobs and growth.

“To do this, investors need confidence, and the Government must decide sooner rather than later how PFI will evolve, alongside a range of alternatives, such as Tax Increment Funding and Pension Fund Financing.

“It’s worth remembering that without PFI we would not have seen hundreds of much-needed hospitals, schools and homes delivered on time and within budget.”

Notes to Editors:

The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.


Media Contact
CBI Press Office on 020 7395 8239 or out of hours pager on 07623 977 854. Follow the CBI on Twitter at: www.cbi.org.uk/twitter

 

Latest WiredGov Survey: How Are Public Sector Budget Cuts Hurting Talent Acquisition? 10 x £100 Amazon Vouchers Up for Grabs!