House of Commons
As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.
NEGOTIATING BETTER PPP DEALS
EDM #1668
Tabled 18 July 2002
2001-02 Session
There has been an amendment to this EDM.
That this House is concerned that, leaving aside the argument for and against Public Private Partnership as a method of financing large projects, the supine negotiating positions adopted by Her Majesty's Government in respect of the London Underground PPP has resulted in a disastrous deal for London and the nation in a uniquely badly constructed PPP whose primary raison d'etre is to move large-scale expenditure off the Government's books; notes that the main failures were the Government's desire to set up this flagship PPP at whatever cost, leading to premature designation of preferred bidders and the exclusion of Transport for London because its views and advice were inconsistent with policy, all which ensured that the public sector negotiated from weakness and the private sector has been able to transfer virtually all the risks it was supposedly to be accepting to the public, leaving Government with responsibility for 95 per cent. of any debts, while the deficit for which London Underground is responsible over the first seven and a half years will rise to between ú771 million and ú1.2 billion, to be paid for out of increased fares and/or an increased government contribution; and this House recommends that Her Majesty's Government should never again put the public interest over a barrel so as to ensure that no other PPP ever provides such a bad deal to the nation and such a safe bet to the private sector.

Signatures (28)

There are no withdrawn signatures for this Motion

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1668A1
David Taylor
"after 'books', insert 'in a deception which would embarrass the least ethical of corporate accountants'."
Tabled 22 July 2002
3 Signatures
mcve