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Rahm and Elon’s Public-Private Partnership

The city of Chicago, home to one of the worst infrastructure privatizations in history, the sale of the city’s revenue producing parking meters, is poised to conclude another disastrous ‘public-private partnership’ deal with Tesla mogul Elon Musk to build an underground express train from downtown to O’Hare International Airport. “Decades of tax cuts in the name of austerity have shrunk infrastructure spending at all levels of American government. As roads, transit, schools, and water systems crumble nationwide, a burgeoning industry of private equity investors, construction giants, and global water companies are shopping “public-private partnerships,” i.e., private financing, as a silver bullet.”

Source: jacobinmag.com

New South Wales authorities are revaluating their policy toward ‘public private partnerships

New South Wales authorities are revaluating their policy toward ‘public private partnerships.’ “NSW is worried that it won't find enough contractors to build some $80 billion of infrastructure over the next four years if it does not better manage construction risk and break contracts into smaller sizes, giving smaller companies an opportunity to compete against bigger companies. The average size of new social infrastructure projects undertaken as public-private partnerships has more than doubled in the five years to 2015 to about $753 million compared with the five-year period to 2010, according to Allens. Some of the PPPs have also been controversial, such as Maitland Hospital, which will now be built by the government following opposition to the hospital's privatization. Mr. Donnelly said governments needed to better plan PPP as the size of projects increased, and be careful about rushing proposals into the market to meet political timetables.”

Source: Financial Review

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