Local MP Bill Wiggin today welcomed tough action announced by the Government to save more than £1.5 billion from the Private Finance Initiative (PFI).
In a Written Ministerial Statement delivered to Parliament, Treasury Minister Lord Sassoon laid out the Government’s plans to improve transparency and cost effectiveness in Private Finance Initiative contracts.
Critically, all of the money saved will be ploughed back into PFI schemes and frontline services, including Hereford County Hospital.
The decision comes after a series of forensic investigations by Treasury experts into PFI contracts, including that at the Queens Hospital in Romford.
Speaking after the announcement, Bill commented: “I am delighted by this news. Before last year’s General Election we promised that Hereford County Hospital would reap the benefits if the Conservatives returned to Government: now that promise is being fulfilled.
This announcement is all about value for money and protecting the taxpayer. I look forward to seeing this excellent initiative give rise to real improvements in Herefordshire”