Chancellor鈥檚 Autumn Statement next week will set out the government鈥檚 revamped PFI
The government鈥檚 long-awaited revamp of PFI is set to be unveiled next week alongside the chancellor鈥檚 Autumn Statement.
It is understood that the government will publish an update to the Treasury鈥檚 standard PFI contract, SOPC version 4, alongside George Osborne鈥檚 statement on 5 December.
As revealed by 好色先生TV earlier this month, the revamp to PFI - originally set to be published in the summer - will mean soft FM services are excluded from standard PFI deals in future, while the returns to private investors from refinancing PFI deals are likely to be capped.
Richard Threlfall, KPMG鈥檚 UK infrastructure head, said: 鈥淭here is potential for the government to limit the upside on PFI contracts without seriously damaging the market on standard deals for schools, hospitals and such like. But for any more ambitious or unusual schemes it could have a serious impact.鈥
Osborne is also expected to unveil an update of the government鈥檚 National Infrastructure Plan and is likely to announce more schemes set to benefit from the 拢40bn UK Guarantees scheme to underwrite returns on privately-funded priority infrastructure.
The Treasury is understood to have been conducting a trawl of contenders for the guarantees in recent weeks in order to identify schemes for his statement.
The chancellor is also expected to announce a boost in spending on repairs and maintenance projects in a bid to stimulate jobs and growth.
There will be live coverage of the Autumn Statement on www.building.co.uk on Wednesday 5 December
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