In light of the experiences discussed in this chapter and overseas developments, the Committee suggests it would be timely to review operational projects with a view to updating the policy and guidance documents in light of experience and providing best practice for future PPP projects.
The Committee recommends that:
Recommendation 9: | The Victorian Government continue to work with the Commonwealth Government on the need to reform section 51AD of the Income Tax Assessment Act 1936 to protect the taxpayers' interest in a way which facilitates projects while protecting the public interest. |
Recommendation 10: | The Partnerships Victoria policy and guidelines be updated to reflect recent experiences with public private partnership/private finance initiative projects in Australia, particularly in relation to the public sector comparator, valuing risk, and the discount rate. |