Rating PFI in the UK (TT Apr04 p53-54)

Since the launch of the private finance initiative (PFI) model in 1992, more than 450 projects have been constructed and are operational; the majority on time and to budget. Their combined capital value is about £40bn. A diverse range of assets has successfully used PFI techniques, but they have largely followed the UK government’s priorities, such as healthcare and education. Significant periods of under-investment in public assets, together with an ageing public sector infrastructure, have resulted in a backlog of maintenance and asset delivery. PFI has emerged as an accepted technique for leveraging private sector finance to assist in the delivery of public sector infrastructure.

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