Controversial PFI and PF2 contracts, under which private companies provide public services and infrastructure, are to be abolished in the wake of the collapse of construction firm Carillion.
Chancellor Philip Hammond said doing away with the public-private partnerships, which have been heavily criticised for failing to deliver value for money, showed the government was “putting another legacy of Labour behind us”.
The contracts were first introduced by John Major’s Conservative government in the 1990s but were significantly expanded under Tony Blair.
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