Private Finance Initiative

Treasury written question – answered at on 11 June 2018.

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Photo of John Martin McDonnell John Martin McDonnell Shadow Chancellor of the Exchequer

To ask Mr Chancellor of the Exchequer, with reference to the news item on UK PFI and PPP equity offshoring and tax avoidance published by the European Services Strategy Unit, if his Department will make an assessment of the implications for his Department's policies of that Unit's findings that almost half of all private finance initiative projects are majority owned by nine offshore infrastructure funds.

Photo of Robert Jenrick Robert Jenrick The Exchequer Secretary

As is normal practice, the government does not comment on taxpayer-specific cases. UK resident PFI contractors, facilities management services and fund management companies, regardless of their shareholders’ registered jurisdiction, will be charged UK corporation tax on profits earned within the UK.

The government is clear that everyone must pay their fair share, and has taken significant steps domestically and internationally to ensure companies pay the right amount of tax.

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