Councils with PFI contracts need to consider a number of implications resulting from the transition to a new benchmark interest rate, says David Moore.
The government needs to improve its support to local authorities to ensure that private finance initiative infrastructure returns to the public sector in a useable condition.
Local authorities lack the expertise to manage the wind-down of private finance initiative deals as contracts begin to come to an end, a civil servant warned this week.
Public sector organisations should look into how they plan to exit private finance initiatives or they could face disruption to services, says Ian Tasker.
Tramlink, a Private Finance Initiative which runs Nottingham City Council’s tram network is losing £404,000 a week as a result of Covid-19, the authority has revealed.
Ratings agency Standard and Poor’s has downgraded the credit rating of an NHS hospital Private Finance Initiative company after identifying “strained relationships” with its commissioning trust.
Government outsourcing contract failures have wasted millions of pounds - but a blanket approach to switch to in house provision would be costly, a think-tank has warned.
Sharon Renouf and Virginia Cooper, partners at law firm Bevan Brittan, give some advice to local authorities with Interserve contracts on what to do now.
The revamped version of the private finance initiative – dubbed PF2 – has been little used and has few major differences from its predecessor, the National Audit Office has found.
Carillion’s collapse shows public sector outsourcing is risky and limited. It’s time for a rethink and greater scrutiny and transparency, argue John Tizard and David Walker.
The private finance initiative is deeply unpopular, blamed for delays and exorbitant costs. However, as Anthony Barej finds out, it could still have a future.
A wall collapse last year at an Edinburgh primary school built under the controversial Private Finance Initiative funding system was not the fault of PFI, an independent report has concluded.
Many PFI contracts are trapped in their current terms out of fear of the costs of change and a desire not to show weakness to the other side. But this is not sustainable in the face of increasing...
An estimated 9,000 pupils in Edinburgh are without lessons in the run-up to exams season after 17 schools, all built within the last 15 years under a controversial public private partnership funding...
