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John Laing has reviewed its approach to public-private partnerships, with the firm withdrawing from bidding for new joint ventures with councils and placing 16 employees鈥� jobs at risk.

In a statement, John Laing said that it was 鈥渃oncerned鈥� about a lack of 鈥渟ocial infrastructure opportunities in the foreseeable future鈥�, citing in particular the Local Asset Backed Vehicle (LABV) model, which it said had 鈥渘ot gained sufficient traction鈥�.

As a result, the firm said it would be 鈥渃easing to bid [for] new LABV opportunities鈥� and would withdraw from LABV bids in its pipeline, apart from Stockport, which John Laing Integrated Services would continue to pursue.

A John Laing spokesperson would not say how many LABV schemes it had been intending to bid for.

John Laing said it remained 鈥渢otally committed鈥� to its 拢450m Urban Regeneration Vehicle, in partnership with Croydon council, which was the UK鈥檚 first LABV, and its projects in Hastings, 鈥渢hrough all existing and future development phases鈥�.

It added that selected partnerships in the health sector, such as the current Addenbrooke鈥檚 Forum bid, would continue to be pursued.

The firm said in the UK it would now 鈥減rimarily focus on transport, waste, health and renewable energy鈥�.

鈥淚n addition we will continue to grow our overseas activities,鈥� the firm said.

The firm said that as a result of the review it had placed 16 jobs at risk of redundancy.

Peter Hogg, partner in EC Harris, said it was not a 鈥渟urprise鈥� that John Laing was withdrawing from LABVs as councils were finding it difficult to realise viable proposals.

鈥淚t鈥檚 not the market many people thought and hoped it would be, so it鈥檚 not a bolt from the blue,鈥� he said.

Richard Parker, head of housing finance at PwC, said that although LABVs have been highlighted as an innovative tool for councils to bring forward development, difficult economic conditions and public spending cuts meant fewer schemes were coming forward than expected.

鈥淐ouncils are currently focused on delivering budget and service cuts rather than innovation in the use of their assets,鈥� he said.

鈥淎t the moment the focus is elsewhere and in many places in reducing headcount they鈥檙e also reducing their capacity to innovate.鈥�