Recommendation 15

The overall value and number of infrastructure projects delivered using private financing models is significant, for example, on the Regulated Asset Base model, a combined £9 billion was invested in Thames Tideway Tunnel and Heathrow Terminal 5.28 In addition, the government announced in June 2025 that it will invest £14.2 billion in the Sizewell C nuclear 23 C&AG’s Report, para 3.29 24 Q 60; Correspondence from HM Treasury, 27 May 2025 25 Q 60; Government Major Projects Evaluation Review, Evaluation Task Force, April 2025 26 Qq 4 and 6; C&AG’s Report, paras 3.21-3.22 27 Qq 24 and 57 28 C&AG’s Report, para 1.8 11 power station.29 With the exception of PFI contracts, private finance contracts are not monitored centrally because responsibility for them rests with departments and sector regulators.30 Written evidence we received from Affinitext highlighted that the absence of complete, digitised and searchable contracts undermined effective contract management, preparation for assets to be handed back to the public sector at the end of a contract, and value for money assurances.31