The report by CBI examines the effectiveness of the UK Private Finance Initiative to date and how it might evolve and be improved.
The report contends that the Private Finance Initiative is achieving real benefits in terms of delivering quality public services on time and to budget. There is positive and consistent user satisfaction with facilities and services procured under the PFI. However, governments and industry need to be clear on how the Private Finance Initiative market should develop.
The report presents the following recommendations for government consideration:
- Clearly articulate the benefits of PFI in terms of its vision for future public services.
- Encourage opportunities to develop underpinning principles of PFI.
- Improve commissioning and procurement skills to enable success of new partnership models.
- Ensure that the growing market in PFI projects is exploited for the benefit of British business and the country as a whole.