Select committee: Public Accounts Committee
Recommendation 7
39th Report - Government’s use of private finance for infrastructure
Published 11 Jul 2025
Addressed to HM Treasury
Public Accounts Committee Government’s use of private finance for infrastructure All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Recommendation (the committee's words)
To improve the transparency of longer-term investment priorities and to support investors with planning, the IPA had published the National Infrastructure and Construction Pipeline annually from 2016 to 2024 – with the exception of 2019, 2020 and 2022. The 2024 publication contains details of the forthcoming procurement and assumptions for the estimated value of the investment that will be delivered via public finance and private finance across a range of infrastructure types.10 There has been no analysis of past performance for projects in the pipeline, as the data is too inconsistent to compare pipelines year on year, and three missing publication years 7 Committee of Public Accounts, Government’s use of private finance for infrastructure 8 Q 2 9 Qq 10 and 12 10 C&AG’s Report, para 2.11 8 have further reduced the value of the pipeline. The 2024 iteration of the pipeline was also a single snapshot in time, reflecting the previous government’s priorities.11
From: Public Accounts Committee, 39th Report - Government’s use of private finance for infrastructure (HC 821), 11 July 2025
Government response
Latest Treasury Minutes progress report to the Committee of Public Accounts on the Thirty-ninth Report of Session 2024-26
The government responded to the whole report on 4 June 2026 (deadline 11 September 2025).
Treasury minutes: Government response to the Committee of Public Accounts on the Thirty-ninth report from Session 2024-26
Published 15 October 2025.
Summary written by Accountability Index from the government's response. It is not the government's own words.The government states that it "agrees with the Committee's recommendation" in each of the recommendations set out in the response, describing some as implemented and others as having target implementation dates between October 2026 and May 2027.
- On the pipeline, the government says the recommendation is implemented, citing the Infrastructure Pipeline published by NISTA in July 2025, with updates "every 6 months", and NISTA has written to the Committee alongside the Treasury Minute.
- On financing models, the government agrees but says the preferred model is "the one that offers the best value for money", appraised "on a case-by-case basis" using the Green Book.
- On a central database, the government agrees with a target implementation date of May 2027. It will expand the Pipeline over time and "explore whether" the additional information sits best there or in a parallel product; the Pipeline would not include legacy PFI or commercially sensitive information.
- On risk allocation, the government agrees with a target date of May 2026, saying the Treasury and NISTA "will set out further guidance by May 2026" on contract and performance management and on resetting infrastructure projects.