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Private Finance Initiative

Volume 505: debated on Tuesday 2 February 2010

8. What recent assessment he has made of the financial viability of Government projects operated under the private finance initiative. (314435)

Financial viability is assessed as part of the consideration of a project’s outlined business case and follows Treasury Green Book rules.

The Economic Secretary will be aware that the country is dependent on a number of waste facilities under private finance initiative projects set when the economy was in a better state. How confident is he that those PFI initiatives will be bid for and met, and that, as a result, the Government will be able to meet their landfill targets?

On waste projects, and many other projects supported through the PFI, the Government have a record of which we can be proud. The hon. Lady will be aware of the Manchester waste project of the last calendar year and of the support for it from the Treasury industry finance unit. A number of other waste projects are currently in the PFI pipeline and extend to £19 billion of potential projects. We want to ensure that those projects are delivered, that they deliver good value for money for the taxpayer, and that they help local authorities to meet their landfill targets and our overall carbon targets.