Recommendations

The PPP programme should be terminated and replaced by a programme of public investment and new regulatory controls on existing PPP projects.

Contractual terms and/or legislation should require profit sharing with the public sector and be accompanied by improved governance, rigorous monitoring and radical changes to disclosure requirements.

Value for money methodology should be radically amended to take account of the significantly higher average rates of return and full economic and social cost benefit analysis.

New financial regulations should ban the transfer of ownership of PPP infrastructure assets to offshore tax havens.