PppForum.com
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PPPForum - Information on PFI and PPP
Description
This section gives basic information about PPPs and current issues of debate. Click on a heading below to jump to that section.
The Private Finance Initiative was announced by the Conservative Government in its 1992 Autumn Statement. Its aim was to achieve closer partnerships between the public and private sectors. Following two reviews of the PFI by Sir Malcolm Bates, the present Government has continued to pursue the delivery of some public services through this means:
Under the Private Finance Initiative (PFI) the public sector contracts to purchase services on a long-term basis so as to take advantage of private sector management skills incentivised by having private finance at risk. The private sector has always been involved in the building and maintenance of public infrastructure, but PFI ensures that contractors are bound into long-term maintenance contracts and shoulder responsibility for the quality of the work they do. With PFI, the public sector defines what is required to meet public needs and ensures delivery of the outputs through the contract. Consequently, the private sector can be harnessed to deliver investment in better quality public services whilst frontline services are retained within the public sector.
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