Ppps - Public-Private Partnerships - will certainly have been on the agenda of Friday's informal Cabinet meeting at Chequers to take stock of the government's present standing and future plans. When these Partnerships work well they provide an excellent way of harnessing private finance and expertise to public needs. However, they depend on trust between the partners and, regrettably, this trust has broken down as the result of the government's handling of one of the most prominent and financially substantial of the partnerships so far undertaken - Railtrack plc. Although Stephen Byers has mounted a robust defence of his decision to put Railtrack in administration (and has been strongly supported by the Cabinet and Labour backbench MPs) his action has left the private shareholders of the company with a deep sense of injustice - not to mention their financial loss.
Government and the City
10/03/2002 00:00
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