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Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215024954
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
This report from the Committee of Public Accounts looks at the PFI deal struck between HM Customs and Excise and the Inland Revenue, in April 2001, when it transferred the ownership and management of most of their estates to Mapeley, a private sector consortium. The deal was to provide a reduction in costs, particularly in having the ability to vacate up to 60% of the estates, with residual lease costs being borne by Mapeley. The contract was won by Mapeley because it offered a cheaper bid, based on speculative returns from the increases in commercial property values over a 20-year time period, also it believed it would win other business contracts to increase profits. Once the PFI contract was signed the freehold and long-leasehold properties were transferred to a company based in Bermuda. Because of the implications for capital gains tax and a later request from Mapeley for additional money, The Committee makes a number of recommendations on how the contract could have been better handled by the Department.
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215024954
Category : Business & Economics
Languages : en
Pages : 44
Get Book Here
Book Description
This report from the Committee of Public Accounts looks at the PFI deal struck between HM Customs and Excise and the Inland Revenue, in April 2001, when it transferred the ownership and management of most of their estates to Mapeley, a private sector consortium. The deal was to provide a reduction in costs, particularly in having the ability to vacate up to 60% of the estates, with residual lease costs being borne by Mapeley. The contract was won by Mapeley because it offered a cheaper bid, based on speculative returns from the increases in commercial property values over a 20-year time period, also it believed it would win other business contracts to increase profits. Once the PFI contract was signed the freehold and long-leasehold properties were transferred to a company based in Bermuda. Because of the implications for capital gains tax and a later request from Mapeley for additional money, The Committee makes a number of recommendations on how the contract could have been better handled by the Department.
Author: Yseult Marique
Publisher: Edward Elgar Publishing
ISBN: 1781004552
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This timely book examines the legal regulation of Public_Private Partnerships (PPPs) and provides a systematic overview of PPPs and their functions. It covers both the contractual relationships between public and private actors and the relationships be
Author: Great Britain: Parliament: House of Commons: Treasury Committee
Publisher: The Stationery Office
ISBN: 9780215561206
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
The Treasury Committee concludes that Private Finance Initiative (PFI) funding for new infrastructure, such as schools and hospitals, does not provide taxpayers with good value for money and stricter criteria should be introduced to govern its use. Higher borrowing costs since the credit crisis mean that PFI is now an extremely inefficient method of financing projects. Poor investment decisions may continue to be encouraged across the public sector, however, because PFI allows Government departments and public bodies to make big capital investments without committing large sums up front. There is no convincing evidence that savings and efficiencies during the lifetime of PFI projects offset the higher cost of finance. The current Value for Money appraisal system may be biased to favour PFIs and there are problems with the way costs and benefits for such projects are currently calculated. Investment could be increased in the long run if government capital investment were used instead of PFI. Paying off a PFI debt of £1bn may cost taxpayers the same as paying off a direct government debt of £1.7bn. Recommendations include: the Treasury should consider scoring most PFIs in departmental budgets in the same way as direct capital expenditure; the Treasury should discuss with the OBR the treatment of PFI to ensure that PFI cannot be used to 'game' the fiscal rules; the Value for Money assessment process should be subjected to scrutiny by the NAO; the Treasury should review the way in which risk transfer is identified.
Author: Sir John Bourn
Publisher: John Wiley & Sons
ISBN: 9780470725344
Category : Business & Economics
Languages : en
Pages : 426
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Book Description
Drawing on 20 years of experience as Comptroller and Auditor General, and head of the United Kingdom National Audit Office, Public Sector Auditing: Is it Value for Money? is Sir John Bourn’s own account of the role and influence value for money auditing has in holding governments to account and in helping public bodies improve the ways in which they deliver services. Key features include: In-depth case studies from UK, US, Canada, China, India and Australia; Detailed analysis of complex areas of public expenditure such as health, education, privatisation, regulation, defence and IT; Examples of how auditing can promote positive outcomes rather than negative post mortems. This book is relevant for people working in both the public and private sectors, and should be essential reading for the staff of public sector audit institutions around the world, as well as commercial accountancy firms and students of accountancy, politics, economics and public management.
Author:
Publisher: Spokesman Books
ISBN: 0851247849
Category :
Languages : en
Pages : 594
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Book Description
Author: Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
Publisher: The Stationery Office
ISBN: 9780108459634
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
A report that recommends a reform of the way, financial liabilities arising from private finance projects (PFPs) are treated in public accounts. It also deals with the growth in the secondary market for PFPs where investors sell on their stake in a project, in many cases once the construction period of that project has been completed.
Author: Dexter Whitfield
Publisher: Spokesman Books
ISBN: 9780851247151
Category : Civil service
Languages : en
Pages : 180
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Book Description
New Labour is creating markets in public services on an unprecedented scale. Education, health and social care, children's services, housing, planning and regeneration, the criminal justice system and the welfare state are all being marketised. It has gone well beyond even Tory expectations of the 1990s.Privatisation inevitably follows marketisation, eroding democratic accountability and embedding business interests. The impact will be far reaching. Any benefits in terms of economic, social and sustainable development that are gained through regional strategies and city regions could evaporate if market forces are allowed to run rampant across the public sector.As this timely book makes clear, action by alliances of trade unions, community organisations and civil society organisations is urgently required.
Author: Brian Greenhalgh
Publisher: Routledge
ISBN: 1134016840
Category : Architecture
Languages : en
Pages : 273
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Book Description
The procurement stage of the building process is critical to the success of any building project, and as such must be understood by everybody entering the industry. This book familiarises the reader with the principles and methods of the procurement of buildings, starting at the most basic level.
Author: Brian Greenhalgh
Publisher: Routledge
ISBN: 1000508803
Category : Technology & Engineering
Languages : en
Pages : 305
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Book Description
This book is an easy-to-read introduction to the principles and methods of building procurement and is aimed at first year students or non-cognate graduates starting out on a career in construction, property, quantity surveying and construction management. The book starts with a brief introduction to the construction industry, including how the industry is organised into contractors, consultants and clients. After a discussion of the historical development of procurement methods, which show a steady shift of risk and responsibility towards the supply side (contractors), the various roles and responsibilities which must be carried out in any project are discussed in detail. The aim is to show the reader that procurement routes are effectively a permutation of these responsibilities between the various parties. The book then explains the various methods by which the contractor(s) are paid, either by pre-negotiated lump sums or by some form of cost reimbursement. Variants of these two systems are also discussed. Several chapters are given to the detailed discussion of the main procurement routes together with the appropriate standard forms of contract designed for that route. More modern developments such as Private Financing and PPP are discussed and a chapter covering emerging trends in procurement completes the book. Containing discussion points, chapter summaries and case studies, this book is ideal for use in a variety of degree programs and courses across the built environment and engineering.
Author: David Mosey
Publisher: Chartridge Books Oxford
ISBN: 1902375025
Category : Architecture
Languages : en
Pages : 173
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Book Description
This book examines the design and build (D & B) method of procurement in the construction industry: its strengths, weaknesses and idiosyncrasies. Crucially, case studies of D & B projects on which the author has worked are included. The book begins by looking at the reasons for the increasing interest in D it then examines the basic components and principles of D & B, covering such issues as what is a D & B contract, the level and scope of liabilities, hybrids - what do they really mean and how many of them are there (design, manage, construct etc.)? Chapters include: the basic principles; the basic law; legal and practical pitfalls; the role of the professionals; novation; extra contractual protections; subcontractors and suppliers; health and safety; D & B in housing and urban regeneration; D & B in commercial/complex projects; D & B on contaminated land; D & B and partnering; D & G and the public finance initiative; JCT 81 amendment 12; appendix - D & B standard forms.
