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Well over £200bn of taxpayers' money has been committed to the companies managing these projects. The coalition government describes some PFI contracts as 'ghastly' and wants some of this cash back. One cabinet minister says 'the people on the other side must have been laughing all the way to the bank'. But, while public services are facing cuts, PFI payments are guaranteed under watertight contracts. So experts say the government can win only small amounts in rebates.
Much of the money has already gone offshore. Huge profits have been made by selling and reselling many contracts in a secretive 'secondary market' - with none of the proceeds returning to the taxpayer. Gerry Northam investigates gaps in HM Treasury's knowledge of this trade and asks if PFI represents value for public money. Producer: Rob Cave.
Check This Webcast Out - File on 4: PFI Profits -BBC Radio 4 has just run a brilliant programme looking at Britain's Private Finance Initiative, which seeks to fund public projects with private capital (and get some of the costs off the government's books in the process. ...
Publish Date: 06/15/2011 10:15
HM Treasury publishes summary data on UK Private Finance Initiative (PFI) projects twice yearly alongside fiscal events.
Publish Date: 05/24/2011 22:12
Labour's Private Finance Initiative- NHS hospitals will cost taxpayers 60 years of pain.
Publish Date: 02/22/2011 20:47
Treasury documents reveal that ministers have approved 200 new PFI deals worth £26 billion to start by 2010, and the amount involved in each has almost doubled. The average size of each contract awarded for the next four ...
Publish Date: 01/27/2011 20:32
PFI always was a rip-off for the taxpayer. But just how egregious a scam the whole crooked set up has turned out to be is fully brought home in an article by Andrew Gilligan, of all people, published today in the Daily ...
Publish Date: 01/25/2011 13:53
Of course, the private sector is also doing very nicely out of the NHS, and that's not just due to the Coalition's plans. There's increasing evidence that the Private Finance Initiative designed by Gordon Brown when he ...
Publish Date: 04/19/2011 16:19
The Department of Health has said that the NHS will eventually pay six times the original value of Private Finance Initiative (PFI) buildings.
Publish Date: 08/13/2010 14:50