This report of the Public Accounts and Estimates Committee of the Parliament of Victoria examines private investment in public infrastructure, particularly public–private partnerships (PPPs) under the Partnerships Victoria policy.
The report focuses in particular on governance arrangements, risk, parliamentary accountability, the public interest, economic benefits and changes in international accounting standards relating to PPP projects.
The report finds that, because of an absence of public documentation, it cannot be ascertained whether the PPP policy is delivering value for money over the life of the project when compared with the traditional method.
The report makes 20 recommendations to improve the Partnerships Victoria policy and significantly strengthen the governance arrangements for PPP projects. These recommendations are also seen as contributing towards the government ensuring that PPPs provide value for money over the life of the projects.