Brexit & EconomyPoliticsNew rules will put PFI billions on Treasury balance sheet

New rules will put PFI billions on Treasury balance sheet

PFI projects previously off balance sheet will now be on the books, with new accounting rules

The government is set to adopt international accounting standards, which
could see more private finance initiatives back on its books.

Treasury officials confirmed that government will move from UK GAAP to IFRS
as of the beginning of next year.

The accounts will make government’s accounts more comparable and in line with
practice in the private sector, the FT reported.

Treasury officials acknowledged the practice would see about £40bn of
PFI projects finally on government’s
balance sheet.

Further reading:

£500bn of government debt hidden by Treasury

Related Articles

5 key takeaways from Theresa May’s Florence speech

Brexit 5 key takeaways from Theresa May’s Florence speech

3w Alia Shoaib, Reporter
UK at risk of Brexit talent brain-drain

People Practice UK at risk of Brexit talent brain-drain

2m Alia Shoaib, Reporter
Brexit essentials: this week's round-up

Politics Brexit essentials: this week's round-up

2m Alia Shoaib, Reporter
Less than a third of UK businesses have made formal Brexit plans

Politics Less than a third of UK businesses have made formal Brexit plans

3m Alia Shoaib, Reporter
Nicky Morgan elected Chair of the Treasury Committee

Politics Nicky Morgan elected Chair of the Treasury Committee

3m Alia Shoaib, Reporter
Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

2m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

3m Emma Smith, Managing Editor
Increased government spending partly offset by high tax revenue

Governance Increased government spending partly offset by high tax revenue

3m Alia Shoaib, Reporter