4 November 1997
PARTNERSHIPS FOR PROSPERITY - A NEW FRAMEWORK FOR THE PFI
An introductory guide to the reinvigorated Private Finance Initiative (PFI) Partnerships for Prosperity' was launched today by Paymaster General Geoffrey Robinson.
The launch of Partnerships for Prosperity', timed to coincide with progress in meeting further recommendations contained in the Bates review, sets out clearly in one document, the Government's support for PFI, the role of the new Treasury Private Finance Taskforce, fundamental PFI policy principles, the procurement process, a list of key contacts and further reference areas.
Chancellor Gordon Brown said in his foreword
"This document provides a useful starting point for anyone interested in finding out about the PFI. Avoiding too much technical detail, it sets out the general principles and places the initiative within the wider context of Government policy towards encouraging successful partnerships."
The Paymaster also announced progress by the Taskforce on those Bates review recommendations with October deadlines.
- the Taskforce is publishing draft proposals for standardising the basic information sought from prospective PFI tenderers. Consistency across Government will simplify procedures and reduce burdens on business;
- it is also consulting on standard wording for advertising PFI projects in the Official Journal of the European Community;
- the Taskforce called for assistance in establishing template contracts and model contract clauses in the main sectors of PFI business.
"Partnerships for Prosperity" and the model contracts being worked on by departments will be stored in a new PFI library housed in the Treasury. The practical arrangements for the library, including the indexing system, are being worked on by the Taskforce in consultation with Departments, its most regular customers.
Notes for Editors
Media Copies of "Partnerships for Prosperity" are available from the Treasury on 0207 270 5644, non-media copies are available from the Public Enquiry Unit on 0207 270 4860 or from the Private Finance Taskforce direct on (0207 270 4841 or 0207 270 5518). Supporting documentation on other Bates recommendations where the Taskforce is seeking comments from PFI practitioners is available from the same sources.