A new ESSU Research Report reveals 240 PPP equity transactions involved 1,229 PPP projects (including multiple sales) valued at £10.0bn in the last decade. Average profit was 50.6% in individual and group equity transactions. £517.9m profit from a sample of 154 PPP projects. If the same level of profit were maintained for the 622 individual and group PPP project equity transactions the total profit would be £2.2bn. (This excludes the undisclosed profits obtained in the sale of secondary market infrastructure funds). Increased use of tax havens for UK infrastructure funds – 91 PPP projects with 50% – 100% equity ownership with funds registered in tax havens. A hard copy of the report is published by Spokesman Books ISBN 978-0-85124-791-5, price £8.95.

Dexter Whitfield said “The level of profiteering from PPP equity transactions makes a nonsense of the original value for money assessments – if these profits had been taken into account at the evaluation stage then few PPP projects would have been approved. PPP projects are little more than money-making mechanisms for builders and banks.”