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In light of its recent £2 million budget increase, we questioned the IPA on whether...
Conclusion
In light of its recent £2 million budget increase, we questioned the IPA on whether it was adequately funded to support the expiry of assets worth around £60 billion. The IPA told us that the resource requirement for PFI expiry was a big and complex subject, and it was considering the size and level of resource that it needed while attempting to be as efficient as possible. It planned to submit additional resourcing requests to the Treasury in the future.35 Local Partnerships told us that managing PFI expiry needed to “be done correctly” and “the more resources, the better”. It also told us that it could be more proactive in its support to authorities if more resources were made available.36
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
1.1 The government agrees with the Committee’s recommendation. Target implementation date: Summer 2021 1.2 The Infrastructure and Projects Authority (IPA) will publish a plan for supporting all authorities with PFI contracts. The plan will also set out a timetable for the publication of guidance notes on contract expiry and other matters. The Treasury and the IPA will jointly write to departments to encourage them to develop sector specific guidance where it will add value and to take part proactively in the PFI Contract Management programme.
Source
Committee
Public Accounts Committee
Report
Fifty-First Report - Managing the expiry of PFI contracts
19 Mar 2021
HC 1114
Addressee Bodies
HM Treasury
Timeline
Recommendation age
5.2 yrs
Report published
19 Mar 2021