Hammond signals end of an era, calling time on PFI

By Jordan Marshall2018-10-29T17:52:00

Chancellor says government will honour existing PFI and PF2 deals but will not sign any new details

PFI and PF2 have been condemned to the scrap heap, with chancellor Philip Hammond confirming the government would not be signing any more of the controversial agreements.

Addressing the House of Commons today, Hammond said: “I’m committed to PPP where it delivers value to the taxpayer and shifts risk to private sector. There is compelling evidence that PFI does neither.”

He said the government will honour existing contracts but “will be no pushover” in their management.

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