The Treasury’s long-awaited review of the Private Finance Initiative has been released as part of today’s Autumn Statement. It contains some pretty damning findings – and some interesting proposals for the years ahead.
Firstly, it’s ditching the much-maligned name “PFI”. Instead, from now on we will have “PF2″. Get used to it. Here are some of the other interesting points in the report.
Today’s autumn statement saw the Office for Budget Responsibility slash its economic forecasts for the UK – the FT’s Claire Jones explains the significance of it here.
So here is a quick chart looking at how sharply expectations for two of the key measures – public sector net debt as percentage of GDP and GDP percentage change – have changed between the budget earlier this year and now.
By Kate Allen and Jonathan Moules
A new institution which aims to maximise the UK’s world-leading position in the emerging field of data use for the creation of new businesses and services is set to launch today.
The Open Data Institute, which was announced by George Osborne in last year’s Autumn Statement, will be the first such organisation of its kind in the world. It will receive £10m government funding over the next five years and aims to raise an equal amount from private donors. It has already attracted $750,000 from eBay founder and philanthropist Pierre Omidyar.