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The Private Finance Initiative (PFI) is a way of financing investment in public infrastructure using private capital.

Private firms stump up the cost of building facilities - such as a hospital or school - and, in return, the state makes payments over a period of time - often about 25 years - for their use and management.

The model has been attractive to governments of all political persuasions as it limits upfront capital expenditure and reduces risk while future payment obligations do not count towards the national debt. However, its value for money has long been questioned.

As of March 2016 there were 716 PFI projects, 686 of which were still operational, external. The others had either been cancelled or had reached the end of the contract period.

The SNP government stopped new PFI contracts when it came to power in Scotland, replacing them with NPDs (non-profit distributing projects).

One of the more creative pieces of merchandise on offer in Brighton - a t-shirt celebrating Jeremy Corbyn's cat...

Chancellor Angela Merkel's chief of staff has described Brexit negotiations as an "awful complicated mess".

Speaking in an interview with BBC Newsnight Peter Altmaier said "concrete solutions" are needed.

He described the idea of a transitional period as "an interesting one" but said it all depends on the details.

Mr Altmaier was speaking as Angela Merkel was re-elected for a fourth term - but her conservative CDU/CSU bloc had its worst result in almost 70 years.

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Day two of the conference comes to an end and delegates head to fringe meetings, policy seminars or for much-needed refreshments.

Business will resume in the main conference hall from 09:30 BST on Tuesday.

Stay with us today though for more conference reaction and analysis.

Former Deputy Prime Minister John Prescott has said it was a "mistake" to use PFI to fund hospital building and Labour had got it wrong.

Lord Prescott told a fringe event at Labour's conference in Brighton: "You borrow against an income flow. The biggest mistake was made when we said we'd extend it to health... In health they don't have a money flow and what happens: anyone coming in wants to run the damn service and that's what's happening... I hope we're getting away from that."

Asked if he believed Labour was wrong to use PFI to fund hospital building, he said: "Yes, I think so, yes I do."

He added that he had "argued" with then-Chancellor Gordon Brown about it at the time.

Lord Prescott described today's policy announcement to bring PFIs “in house" as a "fundamental change" and urged a debate on possible tax rises to fund health and social care spending.

"The reason why we weren't doing the investment was we were scared to death of not doing a proper tax policy," he said.

"That debate [had] better start."

Alex Rowley finishes his speech, describing Jeremy Corbyn as "a prime minister in waiting" and urging the party to be "united, determined and strong".

Scottish Labour interim leader Alex Rowley's speech takes place a day after he revealed that Kezia Dugdale only gave him a few minutes' notice that she was quitting as party leader.

Ms Dugdale announced she was standing down last month and a contest is ongoing to elect her successor.

Mr Rowley was Ms Dugdale's deputy at the time.

He told the BBC's Sunday Politics Scotland: "I didn't know that Kezia Dugdale was going to resign up until 10-15 minutes before she announced it."

Alex Rowley pays tribute to Kezia Dugdale, who quit as Scottish Labour leader in August.

He says Labour needs to win the next Scottish elections.

"It is not the SNP that can deliver an end to the Tories, it is the Scottish Labour Party," he says.

Next up is the interim leader of Scottish Labour, Alex Rowley.

Just before he speaks, party member Daniel from Hove is allowed a moment to protest about what he sees as a lack of facilities for, and representation of, disabled people.

"I would like to see a lot more diversity" of speakers, he says.

Sadiq Khan says that recent terrorist attacks are "not a spike but a long-term shift" while crime is rising.

He calls for the emergency services to be given "the real-term funding they desperately need - right now".

And he says tjhat Theresa May, a former Home Secretary, should be "ashamed of her record" on law and order.

Sadiq Khan speaks about the recent terrorist attacks in London and asks delegates to "please stand and show your appreciation for our amazing emergency services".

They "truly are heroes", he says.

"We have witnessed incredible courage and self-sacrifice," Mr Khan adds.

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Sadiq Khan, Labour Mayor of London, makes his speech to conference.

He says Theresa May called an election this year in an attempt to wipe Labour out.

"Boy, did she fail," he says.

Mr Khan, who has criticised Jeremy Corbyn in the past, says the Labour leader "reached voters we haven't reached before" during the election campaign.

Mr Corbyn became "not just the king of Glastonbury but the king of grime too", the mayor adds.

Grime artist Stormzy has said he is a Corbyn supporter.

Debbie Abrahams says a Labour government would allow so-called Waspi women "to retire at least two years early".

You can read more about the women affected by state pension changes here.

Shadow work and pensions secretary Debbie Abrahams makes her conference speech, arguing: "Inequality in not inevitable. It's constructed."

She calls on the prime minister to halt next month's rollout of Universal Credit, amid concerns about payment delays. Universal Credit moves all benefits into one and is being rolled out in Britain.

Ms Abrahams says the welfare system is "also failing sick and disabled people" and praises Ken Loach, the director of the film I, Daniel Blake, which attacks the government's welfare policies.

Former Italian prime minister Mario Monti tells the BBC's Hardtalk the European Union will be considerably worse off following Brexit.

Tom Moseley
Political reporter

Labour MP David Lammy says he will be "on the streets protesting" when US president Donald Trump comes to visit the UK - and will even chain himself to the doors of Number 10 Downing Street if necessary.

Speaking at an anti-racism fringe event in Brighton, the Tottenham MP also says some people voted Brexit last year "to get rid of" people from ethnic minority backgrounds.

Expressing his disappointing that only one fringe event has been organised on the subject, he adds that tackling racism is something "we need to get back on the political agenda in this country".

The Daily Politics

Attending his 51st party conference, former Deputy Prime Minister John Prescott was upbeat about Labour leader Jeremy Corbyn's prospects, calling on the media and members to "give the man a chance".

When asked by Daily Politics presenter Jo Coburn whether it was worth listening to figures such as himself and Tony Blair, Lord Prescott said: "Not now, no - his age has passed, so has mine."

He went on to say: "I belong to the past, so does Tony Blair."

Taoiseach Leo Varadkar has held talks with Prime Minister Theresa May in Downing Street, with Brexit - and attempts to get Northern Ireland's Executive up and running again - on the agenda.

Deirdre Costigan from the Labour Party Irish Society says that a "hard Brexit" - withdrawal from the EU single market and customs union - threatens the Northern Ireland peace process and common travel area with the Republic of Ireland.

"A hard Brexit means Irish workers like me are second-class citizens," she says.

"We need to protect the peace process. We need to protect the common travel area."