This year could see some belt-tightening at UK PFI practices as the Government seeks to rein in PFI spending. This was made clear by Treasury Solicitor Paul Jenkins, who has prohibited government departments from deviating from the new Catalist super-panel of law firms.
Sensing the change, firms such as Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters all submitted successful applications for the major projects section of the panel to avoid being left out in the cold.
The government in Scotland has been yet more assertive, where recent election winner the Scottish National Party promises “an alternative to costly and flawed PFI/PPP” – namely, the Scottish Futures Trust.
This Project Finance Special Report looks these issues as well as at the flood of Chinese investment into Sub-Saharan Africa and the Government’s proposal for equity funding competitions.