Equity investment in privately financed projects
REPORT BY THE COMPTROLLER AND AUDITOR GENERAL
HC 1792
SESSION 2010-2012
10 FEBRUARY 2012
Equity investment in privately financed projects
Our vision is to help the nation spend wisely.
We apply the unique perspective of public audit to help Parliament and government drive lasting improvement in public services.
The National Audit Office scrutinises public spending on behalf of Parliament. The Comptroller and Auditor General, Amyas Morse, is an Officer of the House of Commons. He is the head of the NAO, which employs some 880 staff. He and the NAO are totally independent of government. He certifies the accounts of all government departments and a wide range of other public sector bodies; and he has statutory authority to report to Parliament on the economy, efficiency and effectiveness with which departments and other bodies have used their resources. Our work led to savings and other efficiency gains worth more than £1 billion in 2010-11.
Equity investment in privately financed projects
| Ordered by the House of Commons to be printed on 9 February 2012 Report by the Comptroller and Auditor General London: The Stationery Office | This report has been prepared under Section 6 of the National Audit Act 1983 for presentation to the House of Commons in accordance with Section 9 of the Act. Amyas Morse Comptroller and Auditor General National Audit Office 7 February 2012 |
This report gathers together the available information on PFI equity and combines it with further information we have collected from projects and investors. We use the information to set out a more extensive analysis of the risks and rewards that PFI investors have experienced.
© National Audit Office 2012
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| The National Audit Office study team consisted of: Elizabeth Hogarth, Kim Hutchings, Henry Midgley, Colin Ratcliffe, Richard Wade and Tom Wysocki, with editorial assistance from Joshua Reddaway, under the direction of David Finlay This report can be found on the National Audit Office website at www.nao.org.uk/pf-private-equity-2012 | For further information about the National Audit Office please contact: National Audit Office Tel: 020 7798 7400 Email: enquiries@nao.gsi.gov.uk Website: www.nao.org.uk Twitter: @NAOorguk |