The Government\u2019s approach to appraisal is set out in the Green Book. This provides a common, standard method for comparing all public spending decisions that use central government funding; the approach to appraising potential PPP projects is consistent with this central guidance.<\/p>
<\/p>
The quantitative assessment tool was in place from August 2004 until its withdrawal in December 2012, all projects which commenced between these dates should have used the tool. For details of specific projects during this period, please see the spreadsheet \u2018Current projects as at 31 March 2014\u2019 at the following link: https://www.gov.uk/government/publications/private-finance-initiative-projects-2014-summary-data<\/p>
<\/p>
A replacement quantitative assessment tool has not been issued by HM Treasury due to the limitations of standard models; since December 2012 procuring authorities have undertaken appropriate quantitative assessment in accordance with the principles set out in the Green Book.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1526", "label" : {"_value" : "Biography information for Greg Hands"} } , "answeringMemberConstituency" : {"_value" : "Chelsea and Fulham"} , "answeringMemberPrinted" : {"_value" : "Greg Hands"} , "dateOfAnswer" : {"_value" : "2016-02-08", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2016-02-08T16:35:23.29Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2016-02-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Private Finance Initiative"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what progress his Department has made on the replacement of the value for money assessment quantitative assessment tool for comparing private finance and conventional procurement options; and which PF1 and PF2 projects used (a) the original value for money assessment quantitative assessment tool or (b) any replacement tool.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4088", "label" : {"_value" : "Biography information for Stella Creasy"} } , "tablingMemberConstituency" : {"_value" : "Walthamstow"} , "tablingMemberPrinted" : [{"_value" : "Stella Creasy"} ], "uin" : "25812"} , {"_about" : "http://data.parliament.uk/resources/450315", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/450315/answer", "answerText" : {"_value" : "
Whilst the Treasury does collect and publish information on the unitary charges of PFI projects, we do not collect it broken down into its constituent parts, neither do we have the detailed financial models that would allow us to disaggregate the totals.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1526", "label" : {"_value" : "Biography information for Greg Hands"} } , "answeringMemberConstituency" : {"_value" : "Chelsea and Fulham"} , "answeringMemberPrinted" : {"_value" : "Greg Hands"} , "dateOfAnswer" : {"_value" : "2016-02-08", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2016-02-08T16:33:49.087Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2016-02-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Private Finance Initiative"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, which of the unitary charges in the list of private finance initiative projects published by his Department on 15 December 2014 were (a) service charges, (b) interest charges and (c) other costs identified over the course of the contracts.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4088", "label" : {"_value" : "Biography information for Stella Creasy"} } , "tablingMemberConstituency" : {"_value" : "Walthamstow"} , "tablingMemberPrinted" : [{"_value" : "Stella Creasy"} ], "uin" : "25813"} , {"_about" : "http://data.parliament.uk/resources/450322", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/450322/answer", "answerText" : {"_value" : "
The first PF2 projects reached financial close last year. The Treasury will publish the equity return information on PF2 projects periodically.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1526", "label" : {"_value" : "Biography information for Greg Hands"} } , "answeringMemberConstituency" : {"_value" : "Chelsea and Fulham"} , "answeringMemberPrinted" : {"_value" : "Greg Hands"} , "dateOfAnswer" : {"_value" : "2016-02-08", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2016-02-08T16:36:32.787Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2016-02-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Private Finance Initiative"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, if he will publish the equity return information provided as part of all PF2 projects commissioned in the last five years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4088", "label" : {"_value" : "Biography information for Stella Creasy"} } , "tablingMemberConstituency" : {"_value" : "Walthamstow"} , "tablingMemberPrinted" : [{"_value" : "Stella Creasy"} ], "uin" : "25744"} , {"_about" : "http://data.parliament.uk/resources/426439", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/426439/answer", "answerText" : {"_value" : "
HM Treasury does not collect or publish taxation information for any Private Finance company including those within the health sector.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4536", "label" : {"_value" : "Biography information for Lord O'Neill of Gatley"} } , "answeringMemberPrinted" : {"_value" : "Lord O'Neill of Gatley"} , "dateOfAnswer" : {"_value" : "2015-11-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-11-19T16:14:13.233Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-11-05", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Private Finance Initiative"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government what calculation they have made of how much (1) UK tax has been paid by PFI investors on profits and equity gains, and (2) corporation tax has been collected from PFI companies, in each tax year since the inception of PFI contracts for health service projects.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/2547", "label" : {"_value" : "Biography information for Baroness Walmsley"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Walmsley"} ], "uin" : "HL3378"} , {"_about" : "http://data.parliament.uk/resources/426440", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/426440/answer", "answerText" : {"_value" : "
In its response to the Public Accounts Committee report, the Government made clear that it did not agree with the Committee\u2019s conclusion and recommendation.<\/p>
As set out in the response, HM Treasury stated that the initial appraisal of a project takes into account the additional tax receipts that arise from the use of a privately funded project, compared to a publicly funded project.<\/p>
Managing Public Money directs procuring authorities to ensure that procurement decisions do not rely on any tax advantage that a particular bid may enjoy because of the tax status of the proposed contactor. Any privately financed option will only be pursued if it is better value for money than the publicly funded alternative.<\/p>
The Treasury\u2019s full response can be found on the gov.uk website.<\/p>
"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4536", "label" : {"_value" : "Biography information for Lord O'Neill of Gatley"}
}
, "answeringMemberPrinted" : {"_value" : "Lord O'Neill of Gatley"}
, "dateOfAnswer" : {"_value" : "2015-11-19", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2015-11-19T14:39:21.2Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2015-11-05", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Private Finance Initiative"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty\u2019s Government whether in assessing the benefits of PFI against conventional procurement they take account of the amount of UK tax paid by PFI investors, as recommended by the Public Accounts Committee in its report of 2011 Lessons from PFI and other projects<\/i>.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/2547", "label" : {"_value" : "Biography information for Baroness Walmsley"}
}
, "tablingMemberPrinted" : [{"_value" : "Baroness Walmsley"}
], "uin" : "HL3379"}
, {"_about" : "http://data.parliament.uk/resources/426441", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/426441/answer", "answerText" : {"_value" : "
In its response to the Public Accounts Committee\u2019s report, the Government has made clear that it does not agree that it would be desirable to seek a share of gains arising from the sale of shares in existing contracts. There would be a significant negative impact on the confidence of investors, particularly foreign investors, in the UK market and new investment in UK infrastructure would be discouraged.<\/p>
The Treasury\u2019s full response can be found at on the gov.uk website.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4536", "label" : {"_value" : "Biography information for Lord O'Neill of Gatley"} } , "answeringMemberPrinted" : {"_value" : "Lord O'Neill of Gatley"} , "dateOfAnswer" : {"_value" : "2015-11-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-11-19T16:15:17.273Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2015-11-05", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Private Finance Initiative"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government whether they have introduced arrangements for sharing gains on the sale of PFI equity shares in new PFI projects, as recommended by the Public Accounts Committee in its report of 2011 Lessons from PFI and other projects. <\/i>", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/2547", "label" : {"_value" : "Biography information for Baroness Walmsley"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Walmsley"} ], "uin" : "HL3380"} , {"_about" : "http://data.parliament.uk/resources/353882", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/353882/answer", "answerText" : {"_value" : "
The information requested is publically available and is accessible at the following link: https://www.gov.uk/government/publications/private-finance-initiative-projects-2014-summary-data<\/a>.<\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1526", "label" : {"_value" : "Biography information for Greg Hands"}
}
, "answeringMemberConstituency" : {"_value" : "Chelsea and Fulham"}
, "answeringMemberPrinted" : {"_value" : "Greg Hands"}
, "dateOfAnswer" : {"_value" : "2015-06-19", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : {"_value" : "2361"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2015-06-19T13:19:04.26Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2015-06-12", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Private Finance Initiative"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, how many PFI contracts were negotiated by (a) NHS trusts, (b) Academy trusts and (c) local authorities in each year from 2010 to 2015; what the values of those contracts were; and what those contracts were for.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/140", "label" : {"_value" : "Biography information for Dame Margaret Hodge"}
}
, "tablingMemberConstituency" : {"_value" : "Barking"}
, "tablingMemberPrinted" : [{"_value" : "Margaret Hodge"}
], "uin" : "2359"}
, {"_about" : "http://data.parliament.uk/resources/179536", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/179536/answer", "answerText" : {"_value" : " A spreadsheet containing data on all operational PFI projects can be found on the following link, www.gov.uk/government/publications/private-finance-initiative-projects-2014-summary-data<\/a>.<\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1535", "label" : {"_value" : "Biography information for Danny Alexander"}
}
, "answeringMemberConstituency" : {"_value" : "Inverness, Nairn, Badenoch and Strathspey"}
, "answeringMemberPrinted" : {"_value" : "Danny Alexander"}
, "dateOfAnswer" : {"_value" : "2015-02-24", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2015-02-24T17:58:08.24Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2015-02-12", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Private Finance Initiative"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, what the capital value is of each PFI contract formed since the inception of that policy; and what amount the Government is contracted to repay in each such case.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/372", "label" : {"_value" : "Biography information for Austin Mitchell"}
}
, "tablingMemberConstituency" : {"_value" : "Great Grimsby"}
, "tablingMemberPrinted" : [{"_value" : "Austin Mitchell"}
], "uin" : "224365"}
, {"_about" : "http://data.parliament.uk/resources/101035", "AnsweringBody" : [{"_value" : "Cabinet Office"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/101035/answer", "answerText" : {"_value" : " The Cabinet Office has one current private finance initiative (PFI) contract, which commenced in 2002.<\/p> In addition, in June 2007 the Cabinet Office entered into a contract, treated as a PFI contract in the Cabinet Office Annual Report and Accounts, which ended in June 2012.<\/p> Information on the Cabinet Office\u2019s Private Finance Initiative contracts is available in the Department\u2019s Annual Report and Accounts. Online copies for 2007-08 onwards ARE on the GOV.UK website:<\/p>