Major Infrastructure Projects

Part of 1. Questions to the First Minister – in the Senedd at 1:31 pm on 17 July 2018.

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Photo of Carwyn Jones Carwyn Jones Labour 1:31, 17 July 2018

Well, the difference is that MIM has value for money among its core objectives. It won't be used to finance soft services, such as cleaning and catering, which has led to expensive and inflexible contracts in the historic PFI model, nor will it be used to finance capital equipment. We invest a small amount of risk capital in each scheme, ensuring the public sector participates in any return on investment. So, it's a different model to PFI. I can say that a public interest director will be appointed by Government to manage the public shareholdings and to promote the public interest more widely, and that post will ensure there is transparency about costs and the performance of private partners.