TBLS Lecturer Laura Panades has published her latest research in a leading peer-reviewed journal.
‘Colonial Private Finance Initiative: to what extent did the UK export its public-private partnership model to British Overseas Territories’ is the title of the article.
Private Finance Initiative is the former UK Government type of Public-Private Partnerships.
These are long-term contracts between the public sector and a private sector provider.
Commonly, the private sector would be in charge of design, build, finance, maintain and operate infrastructure assets and related services.
‘The Round Table: The Commonwealth Journal of International Affairs’, a leading, international, peer-reviewed journal, has published the article, which focuses on the regulation of public-private partnerships.
This research is important because it brings together the Caribbean British Overseas Territories as a distinctive group.
Public-private partnerships are contracts between the public and the private sector for the long-term provision of goods, works and services.
PPPs are important because they can lead to resources for citizens which offer good quality at the best price possible.
In this article, Panades concludes that:
‘The UK priority in steering the overseas territories towards prudent fiscal management is to avoid mismanagement of public funds and potential bailouts, which would be politically damaging to fund with UK taxpayer money. The sophisticated provision of goods, works and services, and the symbiotic relationships between public and private sector in project delivery that normally drive PPPs are an afterthought. What matters is preserving the fiscal sustainability of its territories. Bank crashes can happen, interest rates can rise and financial fortunes can change. In those circumstances, the UK’s priority is to ensure that its overseas territories’ cash flows, first and foremost, navigate calm seas and fair winds.’
The article can be downloaded via https://www.tandfonline.com/doi/full/10.1080/00358533.2024.2410546
The author welcomes further enquiries and is more than welcome to provide electronic access to the full article.
FURTHER PRESS INFORMATION AVAILABLE FROM
Laura Panades