The Financial Times reported today that HM Treasury will not overhaul the way it assesses the tax take on private finance initiative deals even though their ownership is increasingly moving offshore.

The House of Commons Public Accounts Committee has been told that ultimate ownership of 90 of the 700 existing PFI projects has moved offshore.

Justine Greening, economic secretary to HM Treasury, did though admit in a Commons debate last week that there was little information available about the way PFI ownership was being sold on and traded in secondary markets.