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PFI contracts in the spotlight for savings

10 February 2011

The Treasury has published guidance on renegotiating PFI/PPP contracts to achieve cost savings as part of the Government’s programme to reduce costs across the public sector.

The Government’s deficit reduction plan is taking a close look as the PFI/PPP contracts entered into in the last decade to reduce costs across the public sector.
The draft guidance, Making savings in Operational PFI contracts (DRAFT), identifies enabling measures that should be implemented before amending a contract, savings that should be explored by Authorities on a project-spefic basis, inititatives to explore centrally for industry-wide implementation and protection of value for money. The objective is for the guidance, which has been developed by Infrastructure UK, to form the basis of a voluntary code that will be supported by investors, subcontractors and lenders.
To read the guidance CLICK HERE. Useful interpretation has also been produced by lawyers, Nabarro. To read CLICK HERE

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