Public Private Partnerships and the global infrastructure market, financed by investment and pension funds, are fuelling a new era of public asset sales. A secondary market has emerged in which schools, hospitals and roads are traded like commodities. Yet, globally, nearly 1,000 PPP and privatisation projects, valued at over US$500bn, have been terminated or radically reduced. Most PPP projects have little or no democratic control or transparency, are costly, poor value, lack innovation and flexibility, reduce employment and exaggerate risk transfer. It Makes the case for radical changes in global financial markets, the abandonment of PPPs and public management reform.
Tuesday, December 14, 2010