|
|
20 Jun 2011
MORE THAN 90 private finance initiative projects have been moved into offshore tax havens, according to a report by a European based think-tank.
The European Services Strategy Unit claims that the equity in projects for hospitals, schools, courts and police stations are being moved to Guernsey and Jersey. The projects are owned by the likes of HSBC Infrastructure, John Laing Infrastructure and 3i among others, the Financial Times reported.
Further reading
Andrew Hudson, the Treasury's director of public services, told the Commons public accounts committee last week that tax was taking into consideration when choosing the winning bidders. But PFI consortiums become "private companies who are conducting their business" once the contracts had been signed.
However, Ian Swales, a Liberal Democrat member of the committee, told Hudson that as so many of these deals have moved offshore, "the working assumption should be that they will end up offshore. That should be the assessment you should make".
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment