Rugby MP Mark Pawsey today welcomed tough action announced by the Government to save more than £1.5bn from the PFI.
Mark Pawsey MP has welcomed a recent Government announcement which will save £1.5bn from the Private Finance Initiative. Importantly all of the money saved will go to PFI schemes, including University Hospitals Coventry & Warwickshire.
In a Written Ministerial Statement delivered to Parliament, Treasury Minister Lord Sassoon laid out Government plans to save more than £1.5 billion on existing PFI deals, and to plough much of that money straight back into frontline public services.
The announcement comes after a series of forensic investigations by Treasury experts into PFI contracts including at the Queens Hospital in Romford.
Mark is part of the PFI Rebate campaign of more than 80 MPs, from all three major parties, who have been calling for savings on the PFI.
Speaking after the announcement Mark said:
“I am delighted by this news. Our target of £1 billion has been significantly exceeded. The government has listened and taken our campaign very seriously. This announcement will mean real savings for Rugby residents and a real improvement in our local public services.”
Mark continued:
“The actions announced by the Government are deliberately cautious; they are a long-term solution to a long-term problem. This kind of detailed forensic work may not be glamorous, but it is vital if we are to clear up the economic mess left by the last Labour Government."