Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/1757

Appears in Collections:Management, Work and Organisation Journal Articles
Peer Review Status: Refereed
Title: The Private Finance Initiative in the UK: A value for money and economic analysis
Authors: Ball, Robert
Heafey, Maryanne
King, David
Contact Email: rb3@stir.ac.uk
Keywords: Building quality
Private Finance Initiative
public finances
public sector comparator
risk transfer
whole life costing
Issue Date: Jun-2007
Publisher: Taylor & Francis (Routledge)
Citation: Ball R, Heafey M & King D (2007) The Private Finance Initiative in the UK: A value for money and economic analysis, Public Management Review, 9 (2), pp. 289-310.
Abstract: The UK's Private Finance Initiative now involves billions of pounds' worth of capital investment in the public sector. Achievement of value for money is, therefore, a very important consideration. This study into value for money and economic analysis of PFI projects is based on empirical investigations together with a number of recent official reports. This article begins with an exploration of the implications of PFI for the public finances as a whole and whether its use is liable to increase capital investment in the public sector. The remainder of the article provides a detailed analysis, using the schools sector of key issues, such as building quality, maintenance costs, bidding costs, risk transfer, the use of the public sector comparator and financing costs. The results of the analysis suggest significant problems with value for money for PFI projects and support the Audit Committee recommendation for the availability of a wider range of procurement options.
Type: Journal Article
URI: http://hdl.handle.net/1893/1757
DOI Link: http://dx.doi.org/10.1080/14719030701340507
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author; you can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Management Work and Organisation
University of Leicester
Economics

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