PPPs seem like magic like free money. Yet, companies have made significant profits. The magic is that the debt is hidden where the government has the obligation to repay the debt to the private sector.
•in UK private sector borrowing is 1-2% more expensive than state debt
• December 2008: Lagos ₦50 billion bond at only 13% (inflation 15%)
• 2002 – 57% of public sector accountants in UK did not think PPPs provided value for money