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We Need More Social Investment But No More PPPs

Europe needs to spend €1.5 trillion on social infrastructure between now and 2030 to redress the massive underspend over recent years and to address the increasing demands on social services. This is one of the main arguments of the report, Boosting Investment in Social Infrastructure in Europe, from the High-Level Task Force (HLTF) set up by the European Long-Term Investors’ Association and supported by the European Commission. While the report is very good in identifying the scale of the problem, it fails to address some of the key reasons why spending on social infrastructure has been too low for too long and so puts too much emphasis on an increased role for private finance.

Source: Social Europe

EU Public Private Partnerships suffer from widespread shortcomings and limited benefits

The European Court of Auditors (ECA), the European Union’s very own Financial Watchdog, has slammed Public Private Partnerships in a no-holds-barred report. “EU co-financed Public Private Partnerships (PPPs) cannot be regarded as an economically viable option for delivering public infrastructure,” reads the opening line of the ECA’s press release, calling into question the EU’s long-entrenched promotion of the controversial funding mechanism. Speaking ahead of the ECA’s report release, PSI Deputy General Secretary, David Boys said: “For decades trade unions, civil society groups and the wider public fought against the failed privatisation agenda. Now that the EU’s very own financial watchdog is clearly saying PPPs are a bad idea, it’s surely time for leaders to take note.”

Source: www.eca.europa.eu

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Public Private Partnerships in the EU: Widespread shortcomings and limited benefits

The European Court of Auditors (ECA’s) special reports set out the results of its audits of EU policies and programmes, or of management-related topics from specific budgetary areas. The ECA selects and designs these audit tasks to be of maximum impact by considering the risks to performance or compliance, the level of income or spending involved, forthcoming developments and political and public interest. Speaking ahead of the ECA’s report release, PSI Deputy General Secretary, David Boys said: “For decades trade unions, civil society groups and the wider public fought against the failed privatisation agenda. Now that the EU’s very own financial watchdog is clearly saying PPPs are a bad idea, it’s surely time for leaders to take note.”