HISTORIC PRESS RELEASE : Treasury Taskforce continues to reinvigorate PFI [August 1998]

The press release issued by HM Treasury on 27 August 1998.

The Treasury’s Private Finance Taskforce continues to set the pace in reinvigorating the PFI and has today:

• published new best practice guidance for civil servants on how to appoint and manage PFI advisers in the most cost effective manner (Technical Note No 3); and
• given written assurance that funding for PFI contracts by non-Departmental public bodies (NDPBs) will not be cut after signature of value for money contracts (Policy
  Statement No 3).

In addition, a user-friendly  CD-ROM entitled “The Digital Guide to PFI” has been produced,  bringing together over 30 documents comprising all Taskforce-approved PFI case studies, technical notes and policy statements (including the two publications released today) as well as general Treasury Procurement Group guidelines on the PFI process. The CD was produced in partnership with Digital Networks Ltd, the fourth Public Private Partnership that the Taskforce has entered into.

Paymaster General Geoffrey Robinson said:

“With a growing number of PFI projects signed or closeto signature, it is vital that the Treasury Taskforce disseminates best practice as widely as possible. The new advisers guidance, for example, takes into account the lessons of the past and should help the public sector achieve better value for money.  I am  delighted that, in addition to the traditional paper documents already available, our top quality guidance material can now be accessed at the touch of a button.

“It is also terrific to see the Treasury Taskforce once again practising what it preaches. PPP’s are all about negotiating deals that are good for both sides, and the Government is keen to exploit the potential for value for money through the use of a wide spectrum of partnerships that combine public and private sector skills”.