Stella Creasy
Main Page: Stella Creasy (Labour (Co-op) - Walthamstow)Department Debates - View all Stella Creasy's debates with the HM Treasury
(1 day, 18 hours ago)
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Darren Jones
The difference from the last Government is that they promised things with no money, and we are promising things with actual money. The hon. Member points to the midlands hub in the spending review document. That is about development funding. One of our different approaches under this infrastructure strategy is that, instead of just allocating the total estimated spend at the start of the project and letting the project get on without proper oversight, we are issuing development funding earlier and more often, so that we can have properly costed business cases with proper assurance. That means we can guarantee members of the public that we will deliver on our promises, unlike his party.
Ms Stella Creasy (Walthamstow) (Lab/Co-op)
I welcome this investment strategy. Many of us have seen at first hand the broken infrastructure we are dealing with. The Chief Secretary will know my concern that many of the organisations we will be asking to tackle these problems are also dealing with the legacy of the private finance initiative, which saw buildings and projects cost three times more than the actual assets themselves. The pleas that many of us made to the previous Government to tackle these legal loan sharks of the public sector fell on deaf ears, and I know that this Chief Secretary will not make the same mistake. Would he be open to meeting those of us who are keen to learn the lessons of the private finance initiative? In particular, can we cap what private companies can make on military contracts, children’s care homes and other social infrastructure projects, so that we do not see our public sector savaged by these companies in future?
Darren Jones
I am always happy to meet my hon. Friend. I can confirm that in the design and funding of NISTA, I have funded a particular team to work on the management of disputes under the old PFI contract schemes to make sure that we are getting the best outcomes and best deal for the public sector.