1-3 of 3 results for askedby:"Baroness Walmsley"
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To ask Her Majesty’s Government whether in assessing the benefits of PFI against conventional procurement they take account of the amount of UK tax paid by PFI investors, as recommended by the Public Accounts Committee in its report of 2011 Lessons from PFI and other projects.
To ask Her Majesty’s Government whether in assessing the benefits of PFI against conventional procurement they take account of the amount of UK tax paid by PFI investors, as recommended by the Public Accounts Committee in its report of 2011 Lessons from PFI and other projects.
In its response to the Public Accounts Committee report, the Government made clear that it did not agree with the Committee’s conclusion and recommendation.
As set out in the response, HM Treasury stated that the initial appraisal of a project takes into account the additional tax receipts that arise from the use of a privately funded project, compared to a publicly funded project.
Managing Public Money directs procuring authorities to ensure that procurement decisions do not rely on any tax advantage that a particular bid may enjoy because of the tax status of the proposed contactor. Any privately financed option will only be pursued if it is better value for money than the publicly funded alternative.
The Treasury’s full response can be found on the gov.uk website.
To ask Her Majesty’s Government what calculation they have made of how much (1) UK tax has been paid by PFI investors on profits and equity gains, and (2) corporation tax has been collected from PFI companies, in each tax year since the inception of PFI contracts for health service...
To ask Her Majesty’s Government what calculation they have made of how much (1) UK tax has been paid by PFI investors on profits and equity gains, and (2) corporation tax has been collected from PFI companies, in each tax year since the inception of PFI contracts for health service...
HM Treasury does not collect or publish taxation information for any Private Finance company including those within the health sector.
To ask Her Majesty’s Government whether they have introduced arrangements for sharing gains on the sale of PFI equity shares in new PFI projects, as recommended by the Public Accounts Committee in its report of 2011 Lessons from PFI and other projects.
To ask Her Majesty’s Government whether they have introduced arrangements for sharing gains on the sale of PFI equity shares in new PFI projects, as recommended by the Public Accounts Committee in its report of 2011 Lessons from PFI and other projects.
In its response to the Public Accounts Committee’s report, the Government has made clear that it does not agree that it would be desirable to seek a share of gains arising from the sale of shares in existing contracts. There would be a significant negative impact on the confidence of investors, particularly foreign investors, in the UK market and new investment in UK infrastructure would be discouraged.
The Treasury’s full response can be found at on the gov.uk website.