L

Lord Reid of Cardowan (Lab)

Speaking in the House of Lords on 13 March 2025

Debate

Capital Investment and Share Ownership

Contribution

My Lords, of course the public/private partnerships and PFIs had risks, and of course there were failures. That is almost inevitable in any new experimental and radical approach to funding services. But the truth is that over the last 20-odd years, the level of services to people in Britain has been much higher because of our engagement with the private sector. Can I therefore encourage my noble friend the Minister and his colleagues not to be deterred when it comes to infrastructure? There is no doubt in my mind that huge added value is possible if we are prepared to be bold in public/private partnerships.

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