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In the UK, that would be PFI or PPP (Private Finance Initiative and Public-Private Partnership)? These are indeed a dog's dinner... for which we can blame only
by gmac 15y ago
In the UK, that would be PFI or PPP (Private Finance Initiative and Public-Private Partnership)? These are indeed a dog's dinner... for which we can blame only the people some of us elected.
- jacques_chester 15y agoHere in Australia the latest version is to form a corporation wholly owned by the government, to take on massive debts through that corporation, but then a) refuse to release details of what it's up to, citing "commercial-in-confidence" and b) leaving it off the government's balance sheet, even though everyone knows who the debt really belongs to. The first example I saw was in the Northern Territory in 2000 when the Power and Water Authority was "corporatised". Something similar is happening with NBN Co, which while representing The Greatest Infrastructure Investment Evar, will also apparently Cost Nothing, Honest.