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The Refinancing of the Norfolk and Norwich PFI Hospital: How the deal can be viewed in the light of the refinancing

“I have decided to produce a report for Parliament as the issues raised by this case have wider interest in considering how the pricing of PFI deals may change over time. In this case, the Trust continues to pay a premium on its financing costs for being an early entrant into the PFI market whilst benefiting from the early use of the new hospital and lower construction costs. But other factors may affect price comparisons over time and further analysis of price movements would be valuable.”

Published:
10 Jun 2005

The Regeneration of the Greenwich Peninsula: A Progress Report

“The Greenwich Peninsula is an ambitious regeneration, highlighted by the landmark O2 venue. The pace of house building is already two years behind schedule, though better progress has been made on community and commercial space. English Partnerships needs to safeguard returns to the taxpayer, both by addressing the effects of delay, and by delivering the return which is due from the success of the O2.”

Published:
16 Jul 2008

The Restructuring of British Energy

“The Department of Trade and Industry intervened when British Energy could no longer meet its debts. As a result the taxpayer is responsible for underwriting a large and uncertain liability. The scale of the net liability to be borne by the public purse will depend crucially on British Energy’s performance in future years. It is therefore vital that the Department keeps close scrutiny to ensure the taxpayer’s position is safeguarded”

Published:
17 Mar 2006

The Risk of Fraud in Property Management

“Fraud on public expenditure is unacceptable and diverts taxpayers’ money from those purposes for which it is intended. The risk of fraud in property management is intrinsically high, and despite a number of Departmental fraud management initiatives, remains at unacceptable levels after operation of the Department’s existing controls. By implementing the recommendations in my report, the Department could reduce significantly the risks of fraud in this important area of expenditure.”

Published:
17 May 2000

The roll-out of the Jobcentre Plus office network

“My report recognises the considerable achievement that has been made delivering over 800 centres to a high quality standard, under budget. The project team controlled costs effectively and achieved savings against the budget – for example by introducing better procurement arrangements. There are lessons here for other Government departments undertaking major procurement projects.”

Published:
22 Feb 2008