The government should scrutinise PFI value for money but must also recognise that private finance is vital for infrastructure delivery, business lobby group the CBI said today.
In its new report, Building Strong Foundations: Financing UK Infrastructure, the CBI puts forward a package of measures to boost infrastructure investment through effective public private partnerships.
The report comes a week after a commons committee slammed PFIs for being “extremely inefficient”.
“A successful economy depends on high-quality economic and social infrastructure,” said CBI deputy director general Neil Bentley. “Given the current state of the public finances, private finance must be an option if the public is to continue to access quality new schools, hospitals and other infrastructure at an affordable price.
“PFI mustn’t be viewed as the solution on every occasion, but when it has been used effectively it has delivered huge improvements in the UK’s infrastructure.”