Oral Answers to Questions

Debate between Robert Jenrick and Andrew Bridgen

Tuesday 22nd May 2018 Commons Chamber

[Robert Jenrick]

Under the last Labour Government, the average number of PFI contracts signed per year was 55. In the last two years, the Treasury has signed off none. We will use this approach selectively when it delivers a genuine transfer of risk and provides value for money for the taxpayer, not as the last Labour Government did.

[Andrew Bridgen (North West Leicestershire) (Con)]

As the Minister said, PFI was hugely popular under the last Labour Government. Will he confirm whether PFI stands for “private finance initiative” or “pay for indefinitely”?

[Robert Jenrick]

My hon. Friend highlights the cost and legacy of the PFI projects signed off under the last Labour Government. Hon. Members can be assured that we will use this approach wisely and selectively, in particular for the most complex infrastructure projects requiring a transfer of risk and the expertise of the private sector.