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Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher: The Stationery Office ISBN: 9780215024954 Category : Business & Economics Languages : en Pages : 44
Book Description
This report from the Committee of Public Accounts looks at the PFI deal struck between HM Customs and Excise and the Inland Revenue, in April 2001, when it transferred the ownership and management of most of their estates to Mapeley, a private sector consortium. The deal was to provide a reduction in costs, particularly in having the ability to vacate up to 60% of the estates, with residual lease costs being borne by Mapeley. The contract was won by Mapeley because it offered a cheaper bid, based on speculative returns from the increases in commercial property values over a 20-year time period, also it believed it would win other business contracts to increase profits. Once the PFI contract was signed the freehold and long-leasehold properties were transferred to a company based in Bermuda. Because of the implications for capital gains tax and a later request from Mapeley for additional money, The Committee makes a number of recommendations on how the contract could have been better handled by the Department.
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher: The Stationery Office ISBN: 9780215024954 Category : Business & Economics Languages : en Pages : 44
Book Description
This report from the Committee of Public Accounts looks at the PFI deal struck between HM Customs and Excise and the Inland Revenue, in April 2001, when it transferred the ownership and management of most of their estates to Mapeley, a private sector consortium. The deal was to provide a reduction in costs, particularly in having the ability to vacate up to 60% of the estates, with residual lease costs being borne by Mapeley. The contract was won by Mapeley because it offered a cheaper bid, based on speculative returns from the increases in commercial property values over a 20-year time period, also it believed it would win other business contracts to increase profits. Once the PFI contract was signed the freehold and long-leasehold properties were transferred to a company based in Bermuda. Because of the implications for capital gains tax and a later request from Mapeley for additional money, The Committee makes a number of recommendations on how the contract could have been better handled by the Department.
Author: Yseult Marique Publisher: Edward Elgar Publishing ISBN: 1781004552 Category : Business & Economics Languages : en Pages : 329
Book Description
This timely book examines the legal regulation of Public_Private Partnerships (PPPs) and provides a systematic overview of PPPs and their functions. It covers both the contractual relationships between public and private actors and the relationships be
Author: Great Britain: Parliament: House of Commons: Treasury Committee Publisher: The Stationery Office ISBN: 9780215561206 Category : Business & Economics Languages : en Pages : 120
Book Description
The Treasury Committee concludes that Private Finance Initiative (PFI) funding for new infrastructure, such as schools and hospitals, does not provide taxpayers with good value for money and stricter criteria should be introduced to govern its use. Higher borrowing costs since the credit crisis mean that PFI is now an extremely inefficient method of financing projects. Poor investment decisions may continue to be encouraged across the public sector, however, because PFI allows Government departments and public bodies to make big capital investments without committing large sums up front. There is no convincing evidence that savings and efficiencies during the lifetime of PFI projects offset the higher cost of finance. The current Value for Money appraisal system may be biased to favour PFIs and there are problems with the way costs and benefits for such projects are currently calculated. Investment could be increased in the long run if government capital investment were used instead of PFI. Paying off a PFI debt of £1bn may cost taxpayers the same as paying off a direct government debt of £1.7bn. Recommendations include: the Treasury should consider scoring most PFIs in departmental budgets in the same way as direct capital expenditure; the Treasury should discuss with the OBR the treatment of PFI to ensure that PFI cannot be used to 'game' the fiscal rules; the Value for Money assessment process should be subjected to scrutiny by the NAO; the Treasury should review the way in which risk transfer is identified.
Author: Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs Publisher: The Stationery Office ISBN: 9780108459634 Category : Business & Economics Languages : en Pages : 330
Book Description
A report that recommends a reform of the way, financial liabilities arising from private finance projects (PFPs) are treated in public accounts. It also deals with the growth in the secondary market for PFPs where investors sell on their stake in a project, in many cases once the construction period of that project has been completed.
Author: Sir John Bourn Publisher: John Wiley & Sons ISBN: 9780470725344 Category : Business & Economics Languages : en Pages : 426
Book Description
Drawing on 20 years of experience as Comptroller and Auditor General, and head of the United Kingdom National Audit Office, Public Sector Auditing: Is it Value for Money? is Sir John Bourn’s own account of the role and influence value for money auditing has in holding governments to account and in helping public bodies improve the ways in which they deliver services. Key features include: In-depth case studies from UK, US, Canada, China, India and Australia; Detailed analysis of complex areas of public expenditure such as health, education, privatisation, regulation, defence and IT; Examples of how auditing can promote positive outcomes rather than negative post mortems. This book is relevant for people working in both the public and private sectors, and should be essential reading for the staff of public sector audit institutions around the world, as well as commercial accountancy firms and students of accountancy, politics, economics and public management.
Author: Dexter Whitfield Publisher: Spokesman Books ISBN: 9780851247151 Category : Civil service Languages : en Pages : 180
Book Description
New Labour is creating markets in public services on an unprecedented scale. Education, health and social care, children's services, housing, planning and regeneration, the criminal justice system and the welfare state are all being marketised. It has gone well beyond even Tory expectations of the 1990s.Privatisation inevitably follows marketisation, eroding democratic accountability and embedding business interests. The impact will be far reaching. Any benefits in terms of economic, social and sustainable development that are gained through regional strategies and city regions could evaporate if market forces are allowed to run rampant across the public sector.As this timely book makes clear, action by alliances of trade unions, community organisations and civil society organisations is urgently required.
Author: Late Professor of Entrepreneurship Mike Wright Publisher: Oxford University Press ISBN: 0198837364 Category : Capitalism Languages : en Pages : 913
Book Description
There has been a major revival of interest in State Capitalism: What it is, where it is found, and why it is seemingly becoming more ubiquitous. As a concept, it has evolved from radical critiques of the Soviet Union, to being deployed by neo-liberals to describe market reforms deemed imperfect, to settle into a middle ground, as a pragmatic way to describe the state assuming a role as an active economic agent, in addition to its regulatory, social, and security functions. The latter is the central focus of this book, although due attention is accorded to the origins of state capitalism and how it has changed over the years, as well as contemporary ways in which state capitalism may be theorized. This economic agency may assume direct forms, for example, via state owned enterprises. However, it may also be indirect, for example, actively serving private interests through promoting insider firms, who may occupy monopolistic market positions and perform outsourced state functions. In turn, this leads to raise salient governance questions. The latter may encompass agency tensions between public ownership, and political or even private interest control; it may also include issues of transparency and monitoring. Although state capitalism has often been depicted as the preserve of states in the global south, be they developmental or predatory, many forms of state capitalism are visible in mature economies, be they liberal or coordinated, and this is not always associated with superior governance arrangements; indeed, this is an area where clear and easy divisions between the developing or emerging world and the developed or mature world may increasingly be breaking down. This volume brings together the accounts of leading experts from around the world; it is explicitly multi-disciplinary, and both consolidates the exiting knowledge base, and provides new, novel, and counter-intuitive insights.
Author: Publisher: Thomas Telford ISBN: 9780727728838 Category : Law Languages : en Pages : 904
Book Description
- The planning system - Financing the project - Public sector projects - Public/private sector partnerships - Tender process - The construction contract - Construction insurance - Ways of operating - Working with others - Working internationally - The engineer's appointment - Collateral warranties - Professional indemnity insurance - Copyright and intellectual property - Employment law - Computers and IT - Law of contract - Law of tort - Environmental law - Health and safety law - Insolvency in construction - Administration of claims - Litigation - Arbitration - Adjudication
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Author: Yseult Marique
Author: Great Britain: Parliament: House of Commons: Treasury Committee
Author: 
Author: Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
Author: Sir John Bourn
Author: Dexter Whitfield
Author: Gavin Kelly
Author: Late Professor of Entrepreneurship Mike Wright
Author: