Tag Archive: P3

As UK Auditor disparages P3s, BC continues to use them

Jan 25, 2018
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The public private partnership (P3) model to provide public infrastructure and services is an expensive mess, and new international evidence confirms this. The question now becomes, when is that mess going to wash up on BC’s shore? Despite increasing evidence that P3s are a bad idea, BC’s government is going ahead with this flawed procurement model,… View Article

The enormous cost of public-private partnerships

Aug 3, 2017
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Three recent BC public private partnership (P3) hospitals developed in co-operation with the province’s Partnerships BC (PBC) will cost the public $260 million more than traditionally delivered projects, according to figures released in July in response to a Freedom of Information request.1 The three projects were the BC Children’s and BC Women’s Redevelopment Project Phase… View Article

Massey Bridge P3 borrowing costs yet another problem

Oct 14, 2016
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As more information becomes available about the controversial $3.5-billion, 10-lane Massey Bridge project, concern about the project increases. Issues had already been raised about the cost and need for the project given questions about traffic growth, but the publication of two new documents raises concerns about the plan to build the bridge as a public private… View Article

You always learn something when accountants feud

Dec 9, 2013
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Every year in BC people who follow government get an early Christmas present in late November,  For the better part of a week BC’s Auditor General sits down with the legislature’s Public Accounts Committee (PAC) to talk about the Auditor General’s reports. This year’s encounter was quieter than some in the past.  Former Auditor General… View Article

BC hospital P3 ownership moves to tax haven

Nov 6, 2013
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One more of British Columbia’s public private partnerships (P3s) has headed on down the road to ownership in a European tax haven.  Bilfinger Berger Global Infrastructure completed deals last summer to acquire equity and loans for the Kelowna Vernon Hospital.  It is also buying out equity and loans on Alberta’s North East Stoney Trail highway… View Article

Tax haven based company buys more BC P3s: British Auditor General questions profits in such transactions

Feb 14, 2012
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Two of British Columbia’s public private partnership (P3) projects have changed hands again and once again the new owner resides in a European tax haven. In a separate but related development, last Friday Britain’s Auditor General released a report questioning very high level of profits for some British P3 projects partially generated by flipping the… View Article