7.61 At the same time as conducting this further research on cross-cutting aspects of PFI, the Government seeks, where possible, to increase the availability of information concerning PFI and the PFI process. Since 1997, it has increased the information disclosed in the Financial Statement and Budget Report to include:
• a record of future payments contracted for by each PFI scheme; and
• the capital value of contracts signed to date and in procurement.
7.62 The Government believes it is important to increase the data available concerning the PFI process. With the increasing number of projects being completed and becoming operational, it is now possible to contemplate seeking to publish further information on their performance on a regular basis. This will not only lead to better management of programmes and projects in the future, but also increases the accountability and openness of the programme.
7.63 The Government also recognises that to help the private sector to plan its investments in PFI it would be useful to publish, on a more comprehensive basis, what the short and medium term plans are for future projects to be delivered under the PFI process.
7.64 Consequently, the Government plans to publish on an annual basis a comprehensive statement concerning the progress of the PFI programme to include:
• a record of transactions committed to in the previous year;
• a statement of future transactions, indicating the different stage of development;
• a record of projects that have been completed in the year in question and their performance against expectations; and
• a statement as to progress made on standardisation of contracts.
7.65 HM Treasury will consult over the next six months with private and public sectors as to what further information it would be possible to collate and publish on the following subjects:
• the operational performance of PFI projects;
• developments in the cost of financing PFI projects; and
• returns on equity actually achieved by the private sector.
7.66 The more detailed research behind the conclusions set out in Chapter 4 will also be published via the internet shortly.