Monday, 25 July 2011

Cambridge MP welcomes government's PFI savings

Julian Huppert has welcomed tough action announced by the government to save more than £1.5 billion from the Private Finance Initiative.
Importantly, much of the money saved will be used to improve services, including those in Cambridge and the East of England.
In a Written Ministerial Statement, Treasury Minister Lord Sassoon laid out government plans to save more than £1.5 billion on existing PFI deals. The announcement comes after a series of forensic investigations by Treasury experts into PFI contracts including at the Queens Hospital in Romford.
Julian has strongly supported the PFI Rebate campaign of more than 80 MPs, from all three major parties, who have been calling for savings. He spoke in a recent debate about the PFI – the first ever held – to express his concerns.
Speaking after the announcement, Julian commented:
“I’m pleased to hear that our initial target of £1 billion has been significantly exceeded.  The government has listened and taken our campaign very seriously.  This announcement will mean real savings in Cambridge.
“The previous government used far too many PFI contracts. They were incredibly badly negotiated, so much so that one hospital found it had to pay over £300 for a single lightbulb. This is simply not the right way to fund public services, and it’s good to see the government taking action to claw back some of the money that has been wasted.
“I will continue to work hard to ensure that we are getting the best deal possible.”