When British Columbia sets up public private partnerships (P3s) to let the private sector operate hospitals, roads and bridges, one of the considerations is taxes. However, when down the road ownership of the P3 private operator gets moved to a tax haven, it appears there is no subsequent examination of the impact on provincial revenues. [...]
Entries Tagged as 'P3'
Are tax havens robbing the government of revenue from P3s? Nobody seems to care
January 2nd, 2013 · Keith Reynolds · 3 Comments · Privatization, P3s & public services
Tags: P3·Tax Havens
Construction industry accuses Partnerships BC of conflict of interest
September 15th, 2012 · Keith Reynolds · 1 Comment · Privatization, P3s & public services
I think that Philip Hochstein, president of the Independent Contractors and Business Association, is probably more hostile to the interests of working people than just about anybody else in British Columbia. So when I find myself agreeing with him on something, my fingers twitch at the keyboard. But that is just what happened with the [...]
How the rules got fiddled to make sure a public private partnership got pushed through
July 12th, 2012 · Keith Reynolds · 3 Comments · Health care, Privatization, P3s & public services, Transparency & accountability, Uncategorized
In 2008 British Columbia’s controversial public private partnership (P3) program was in trouble. With P3s private companies put up financing for public services and infrastructure and in exchange get to manage the projects with guaranteed profits for decades. The cost of private finance was always higher than if government borrowed the money itself, but in [...]
Tags: Fort St. John·P3·Partnerships BC
Tax haven based company buys more BC P3s: British Auditor General questions profits in such transactions
February 14th, 2012 · Keith Reynolds · Comments Off · Privatization, P3s & public services
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 [...]
Tags: Auditor General·Bilfinger Berger·Golden Ears·Kicking Horse Canyon·P3·tax haven
New Brunswick Auditor General latest to blast public private partnerships
January 15th, 2012 · Keith Reynolds · Comments Off · Privatization, P3s & public services
One more provincial Auditor General has come out swinging at public private partnerships (P3s). Last week New Brunswick’s AG released a report on two P3 schools that had been announced by the NB government in 2008. New Brunswick Auditor General Kim MacPherson joins public auditors in Nova Scotia, Quebec, Ontario, and British Columbia who have [...]
Public private partnerships under increasing attack in the UK
August 19th, 2011 · Keith Reynolds · 2 Comments · Privatization, P3s & public services, Transparency & accountability
While British Columbia continues to invest billions in public private partnerships(P3s), a UK Parliamentary Committee today told its government to “wean itself off the practice.” The Treasury Select Committee found: We have not seen clear evidence of savings and benefits in other areas of PFI projects which are sufficient to offset this significantly higher cost of [...]
Suspicion about private finance schemes growing in the UK
June 2nd, 2011 · Keith Reynolds · 5 Comments · Privatization, P3s & public services, Transparency & accountability
On May 16th British Columbia’s Auditor General published a report on Vancouver General Hospital P3 that raised serious doubts about public private partnerships in British Columbia. In the UK, where P3s have been around a lot longer, the doubts are getting even graver. Under P3s, or private finance initiative (PFI) as they are known in [...]
British Columbia Auditor finds costly failings in Province’s first hospital P3
May 23rd, 2011 · Keith Reynolds · 3 Comments · Privatization, P3s & public services, Transparency & accountability
A new report by British Columbia’s Auditor General has debunked nearly every benefit claimed so far for public private partnerships (P3s). The Auditor General’s report on a Vancouver Coastal Health Authority (VCHA) project adds to earlier criticisms by his counterparts about failings in P3 hospital projects in Quebec and Ontario. The BC report, released on [...]
Quebec Auditor General slams P3s in hospital project
June 11th, 2010 · Keith Reynolds · Comments Off · Privatization, P3s & public services, Transparency & accountability
Quebec’s Auditor General has issued yet one more report slamming the use of public private partnerships (P3s). With P3s, private corporations finance and operate public facilities and services. The money they invest is more costly than money borrowed publicly. It is paid back to them, along with profits for the corporation, by governments over multi-decade contracts. [...]
Problems for the South Fraser Perimeter Road P3?
May 12th, 2010 · Keith Reynolds · 2 Comments · Environment, resources & sustainability, Privatization, P3s & public services, Transparency & accountability
There are some interesting recent developments on the South Fraser Perimeter Road (SFPR) public private partnership project. A press release issued Friday afternoon announced the successful bidder in response to a Requests for Proposal. The results may not be what we were led to expect. The SFPR project is part of the Province’s Gateway project [...]
Tags: Gateway·Ministry of Transportation·P3·Partnerships BC·South Fraser Perimeter Road
