Current developments in the United Kingdom
The summer has proved something of a mixed time for UK PPP. On a
positive note, the first new PPP projects were announced by
Education Secretary, Michael Gove, in July. However, PPPs remained
very much in the line of fire with the publication of the
Government's 'Making Savings' guidance in July and two
highly critical reports by House of Commons committees in the late
summer. Whether the 'Making Savings' guidance draws a line
under Jesse Norman's PFI rebate campaign remains to be
seen.
Nine projects closed with a value in the region of £790m.
This comprises 2 education projects, 4 energy projects, a
streetlighting project and two waste projects (although one of
those (at least) did not involve any senior debt). This compares
with 18 projects closing in the first four months of the year with
a value of £1.9bn and 12 projects closing with a value of
£725m in the same period last year (although this was of
course
