Partnerships and the role of financial advisors: Private control over public policy?

This article shows how the use of private sector advisors, predominantly from the Big Four accounting firms, to develop and manage the government's Public-Private Partnerships policy, has led to the privatisation of policy formulation and implementation. Financial advisors develop the policy and appraisal procedures, appraise individual projects, and advise both public and private sector clients. In some cases, the firms also have an equity stake and/or are key subcontractors. They prepare evaluative reports on the same policies in which they have a vested interest. Such conflicts of interest raise questions about who controls policy and the implications for democracy. © The Policy Press, 2007.