Rt Hon Lord Lilley

    Lord Lilley: I congratulate my noble friend on a Statement which proposes a large amount of capital investment that is not being financed by PFI. There is a case for PFI when there is a genuine transfer of risk to the private sector. That has almost never been the case in the health service. It was simply a device to keep borrowing off the Government’s balance sheet. When Enron did that, it went bust and people went to jail. It is a great relief to many of us that the Government are no longer using a criminal form of Enron accounting.