The updated ESSU PPP Equity Database records 462 transactions between 1998- 2016 involving the direct sale of equity of 1,003 projects (including those where equity was sold multiple times) at an estimated cost of £10.3bn. The report examines the continued growth of the secondary market and examines the scale of PPP equity transactions between 1998-2016…

ESSU Research Report No. 11, Dexter Whitfield. Download Report Further details in Public Ownership and Provision section

ESSU Research Report No.12 with the ESSU Global Renewable Energy Secondary Market Transactions Database 2019-2020; Dexter Whitfield Key findings The secondary market provides a mechanism for investors to extract profit at the development or operational stages of renewable energy projects. This process enables utility and petroleum companies to ‘shop’ around to buy ‘ready to build’…

英国PFI/PPP:政府并购、财政援助、合同终止和主要问题报告 A Chinese translation of PFI/PPP Buyouts, Bailouts, Terminations and Major Problem Contracts in UK, Dexter Whitfield, has been produced by Prof. Li Bing and published in The Report on Beijing Population and Social Development (2016-2017), pages 166-208, published by the Social Sciences Academic Press (China).

Details 11 buyouts, 20 terminations and 43 projects with major problems, plus many bailouts, accounting for 28% of PFI/PPP contracts by capital value. The public cost of buyouts, bailouts, terminations and major problem contracts is £27,902m, when combined with the additional cost of private finance, interest rate swaps and higher PFI transaction costs. This could…

New research reveals the rapid growth and power of offshore secondary market infrastructure funds – a £17.1bn (€20.1bn) industry buying and selling equity in PFI/PPP project companies. The three-way profit gain – original SPV shareholders, secondary market fund sales and shareholder dividends of secondary market funds – means the total annual rate of return could…

The first detailed critical analysis of the growing global market in social impact bond projects and reveals that they are the latest new ‘buy-now-pay-later’ scheme to privatise public services and the welfare state. Details 30 financial and public policy flaws in these projects. Proposes an alternative strategy consisting of government and public sector plans for…

*China Social Welfare* journal has published a 6,000-word summary of the Alternative to Private Finance of the Welfare State, a global analysis of Social Impact Bond, Pay-for-Success and Development Impact Bond projects by Dexter Whitfield. Thanks to Prof. Li Bing, Beijing.

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…

New community rights to bid, buy, build, challenge and provide are enshrined in legislation and Coalition policy. The government is also extending existing individual rights to buy and to personal budgets. This paper examines the objectives and scope of the new community rights and proposes a typology of public sector reform rights. It highlights the…