Chancellor Philip Hammond has finally rung the death knell for the UK Private Finance Initiative and PF2, which was of course the new branded replacement for PFI introduced by George Osborne back in 2012, although it didn’t really catch on.
However, interestingly Hammond was keen to point out in his speech that he did not rule out the use of PPPs in the future to fund the UK’s infrastructure pipeline. Well that is reassuring as it implies that the government will at least support the delivery of infrastructure in the future, which is a good idea given the ensuing Brexit position, irrespective of the outcome.
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For more information, please contact Ian MacFarlance, Director at JCRA on 0207 493 3310, or email Ian.MacFarlane@jcrauk.com.