PFI revolution fails to inspire

Article Abstract:

Partnerships UK, a new public-private body created by the Treasury, will be responsible for advising on the private finance initiative (PFI). It will advise public sector clients, and will also offer them funding to launch their projects. It will then convert this funding into equity stakes in the projects. It will receive 20 million pounds sterling from the government when it begins operating, which is scheduled for spring 2000, along with 100 million pounds sterling in loan guarantees. Some observers have expressed concern about this development, including the fact that there will be a gap in current PFI negotiations.

Investments, Design and construction, Private sector, Public buildings

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Newarthill snubs Tories as profit falls

Article Abstract:

Pre-tax profit at Newarthill, holding concern for construction firm Sir Robert McAlpine, declined by 1.08 million pounds sterling in the year to Nov 1996 from the previous year to 1.25 million pounds sterling. However, turnover rose by almost 10 million pounds sterling to 354 million pounds sterling. Turnover from contracting activities rose by more than 23 million pounds sterling to 333.8 million pounds sterling, while operating losses fell to 1.53 million pounds sterling, from 6.47 million pounds sterling. The company donated only 600 pounds sterling to the Conservative party.

Holding companies, Newarthill PLC

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Morton slams PFI whingers

Article Abstract:

British building contractors should seek to benefit from the government's Private Finance Initiative (PFI) rather than criticize it, claims the Treasury's Private finance panel Chairman, Sir Alastair Morton. Contractors appear to be distrustful of the PFI, believing they are being required to bear too much of the risk. Overseas subcontractors appear to be more interested in privately financed contracts in the United Kingdom and so could win many of the lucrative contracts rejected by British contractors. Private finance projects can still yield good margins, says Morton.

Contracts, Contractors

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