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Lord Livermore (Lab)

Speaking in the House of Lords on 13 March 2025

Debate

Capital Investment and Share Ownership

Contribution

The noble Lord is absolutely right in much of what he says. The private finance initiative was a specific public/private partnership model that was developed 20 years ago. The Government are actively managing the legacy PFI portfolio and learning lessons from that. The Infrastructure and Projects Authority believes that there is an opportunity for the public and private sectors to reset relationships, improve performance and deliver high-quality public facilities and services. Of course, lessons have been learned from the past. On 24 March the National Audit Office will publish a report called: “Lessons learned: Private finance for infrastructure”.

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