Sale of Equity in PFI companies, Written evidence to House of Commons Committee of Public Accounts, June 2011 House of Commons Committee of Public AccountsLessons from PFI and other projectsReport, together with formal minutes, oral and written evidenceHC 1201 – 1 September 2011 chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/viewer.html?pdfurl=https%3A%2F%2Fpublications.parliament.uk%2Fpa%2Fcm201012%2Fcmselect%2Fcmpubacc%2F1201%2F1201.pdf&clen=1068056&chunk=true The Committee conclusions and recommendations included: “The Treasury was unable to…

A detailed study of the longer-term impact of changes in the design, structure and financing of PPP/PFI projects, external economic and political drivers such as growth of the secondary market and government modernisation policies, and the effect of economic, social and employment change. The report also examines PPP/PFI performance, democratic accountability and transparency, the impact…

Twenty years on from the introduction of the private finance initiative (PFI), Dexter Whitfield examines the effect it has had – and how it’s set to get worse under new Tory plans (PF2) – Red Pepper, Feb/Mar 2013, Issue 188, pages 16 – 18. http://www.redpepper.org.uk/fingers-in-the-pfi/

This is a radical proposal by the People vs Barts PFI campaign which has been researching and discussing ‘what to do about PFI’ for several years. The paper explains what SPVs are, how SPVs spin off private profit from public assets and proposes a mechanism for nationalising the SPVs. Proposals to strengthen the public design,…

The average annual return on the sale of equity in UK PPP project companies was 29% between 1998-2012 – twice the 12%-15% rate of return in PPP business cases at financial close of projects. The excess profit could be £2.65bn, all of which benefits private sector companies. This report exposes the real level of profiteering…

A new study exposes the impact of the emerging global infrastructure market and widening use of Public Private Partnerships, which is fuelling a new era of public asset sales. Yet over US$500bn of PPP projects have failed, most have little democratic control or transparency. They are costly, poor value and lack innovation. Ultimately, they are…

The London Borough of Barnet signed a £100m 25-year PFI street lighting contract with Barnet Lighting Services Limited (Bouygues Construction and Mill Group infrastructure fund) in April 2006. This Briefing details the delays and performance failures by the private contractor, the lack of audit despite the high risks and cost increases borne by the Council,…

The report questions the basis on which community benefits have been calculated, in particular the reduction in road accidents and crime reduction. It concludes that value for money is not proven because the Private Finance Initiative (PFI) option has been manipulated by the inclusion of over £16m of efficiency savings, PFI savings and risk costs…

The April 2006 issue of the *PFI Journal* contains an article by Dexter Whitfield which examines the potential impact of the Building Schools for the Future programme on education.

A new ESSU Research Report reveals 240 PPP equity transactions involved 1,229 PPP projects (including multiple sales) valued at £10.0bn in the last decade. Average profit was 50.6% in individual and group equity transactions (compared to average operating profits in construction companies of 1.5% between 2003-09). £517.9m profit from a sample of 154 PPP projects.…