I write as a lawyer who has been involved in PFI deals in the industry (for Carillion and Bechtel) and in private practice with a firm fully committed to Rethinking Construction.
Although lawyers, among other advisers, have benefited from high fees on PFI deals, this is the inevitable consequence of transactions that are founded on the transfer of risk, combined with the investment of substantial private funding.
I detect some animosity by Colin Harding towards the legal profession, but his point about a Rethinking Construction model as the way forward is spot-on. This is something that my colleagues and I have encouraged for some time, in particular as a process tool to clarify roles, responsibilities and risks during the period prior to contract signature.
I am exploring this theme with central government and would be more than pleased to develop my thinking in conjunction with others who hold the same view.
John Holden-Ross, projects partner, Trowers and Hamlins, London EC3.