CCPA Policy Note

Entries Tagged as 'P3'

You always learn something when accountants feud

December 9th, 2013 · · Comments Off · Privatization, P3s & public services, Provincial budget & finance, Transparency & accountability

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 […]

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BC hospital P3 ownership moves to tax haven

November 6th, 2013 · · 1 Comment · Health care, Privatization, P3s & public services, Provincial budget & finance, Transparency & accountability

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 […]

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Are tax havens robbing the government of revenue from P3s? Nobody seems to care

January 2nd, 2013 · · 3 Comments · Privatization, P3s & public services

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. […]

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Construction industry accuses Partnerships BC of conflict of interest

September 15th, 2012 · · 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 […]

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How the rules got fiddled to make sure a public private partnership got pushed through

July 12th, 2012 · · 3 Comments · Health care, Privatization, P3s & public services, Transparency & accountability

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 […]

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

February 14th, 2012 · · 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 […]

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New Brunswick Auditor General latest to blast public private partnerships

January 15th, 2012 · · 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 […]

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Public private partnerships under increasing attack in the UK

August 19th, 2011 · · 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 […]

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Suspicion about private finance schemes growing in the UK

June 2nd, 2011 · · 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 […]

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British Columbia Auditor finds costly failings in Province’s first hospital P3

May 23rd, 2011 · · 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 […]

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