Region: Europe and Central Asia
Country: United Kingdom
Topics: Procurement
Keywords: PPP Project Cycle, Legal Framework, Preparation, Procurement, Due diligence, Feasibility study, Pre-feasibility study
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'PFI: Meeting the Investment Challenge' explains the PFI (Private Finance Initiative) programme’s role in the delivery of the Government’s investment plans for public services.
The document explains the Government’s approach to PFI based on clear limits on its appropriate use and a rigorous assessment of value for money with no bias in favour of any particular procurement route. Presenting the results of research conducted into the performance of PFI, and outlining the steps already taken to improve the programme through building the partnership between public sector client and private contractor, the document also outlines the steps the Government has taken to ensure that PFI’s value for money is not obtained at the cost of employees’ terms and conditions.
Finally, it proposes further improvements to the Government’s process for assessing value for money, its systems for delivering projects and its ability to capture efficiently the benefits of private finance. This document is concerned only with the Government’s PFI programme, and not other forms of public private partnership (PPP). Its policy proposals have direct effect only in England, as policy on PFI is devolved in Scotland, Wales and Northern Ireland.
Tracking Number: Meetingtheinvestmentchallenge_2003_EN
Updated: October 25, 2021