INVESTMENT REPORT BACKS SNP APPROACH

INVESTMENT REPORT BACKS SNP APPROACH

Commenting on the Finance Committee’s report in to capital investment projects SNP MSP and Committee member Joe FitzPatrick welcomed the Committee’s emphasis on value for money and flexibility in capital projects.

He also pointed to the problems of previous investments highlighted by the Committee and its acceptance of SFT as a model for financing public sector investment.

Mr FitzPatrick said;

“The Committee’s recommendations that future investment must focus on securing value for money for the taxpayer and flexibility for those who will use the service highlight the failures of PPP and PFI and the benefits of the Scottish Futures Trust.

“In investigating the funding of capital projects in recent years the Committee has uncovered a disturbing lack of evidence in previous contracting arrangements.

“That after years of operating PPP and PFI funding there are no proper cost comparisons available, no common assessment of risk despite it forming the basis for the PFI contracts used by the previous administration and no real assessment of long term value for money is disgraceful.

“It is well known that PFI has produced far better value for the private investors than the taxpayer. Perhaps that is why - as the report makes clear - the UK Government has still to bring PFI debts onto the books.

“With the key principles of this report, value for money for the taxpayer and flexibility for the user, at the heart of the Scottish Futures Trust and the SNP Government’s approach to capital investment it is clear that Labour’s days of dodgy deals for private sector millions are over.”