Chunnel link may derail PFI
John Prescott and Neil Kinnock were this week trying to put the private finance initiative (PFI) back on track, after the partial derailing of the #3bn PFI high-speed Channel Tunnel Rail Link project.
London & Continental Railways, which promoted the rail link, last month said it could not deliver the scheme without more than #1bn investment from the public sector, a warning which threatens the future of the PFI project and puts a dampener on PFI as a whole. But deputy prime minister Prescott and European transport commissioner Kinnock this week co-hosted the UK European Union presidency conference on public/private partnership, bringing together 20 transport ministers plus industry leaders to discuss how PFI could deliver European transport projects.
Alistair Morton, ex-chairman of Eurotunnel, gave a keynote speech at the conference, in which he said the deal was unbalanced in terms of benefits and risks for the public and private sectors. If the deal falls through, the taxpayer is expected to shoulder more than #400m of debt.
The numbers you crunch tell a story. Your expertis...
26yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article