Investigation into supply chain finance in the NHS
Published on:This investigation examines Greensill Capital’s involvement in the provision of two schemes to the NHS.
Search results for 'Private finance'
Showing 1 - 20 of 105 results
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Investigation into the British Business Bank’s accreditation of Greensill Capital
Published on:This investigation looks at the British Business Bank’s approval of Greensill Capital’s access to government business support schemes.
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Managing PFI assets and services as contracts end
Published on:This report provides information on managing PFI contracts when they end and considers whether government is preparing for expiry appropriately.
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NAO Interactive Data Visualisation on PFI contract expiry – survey results
Published on:Last updated – 28 May 2020 Introduction to the topic This online publication provides results of a survey we conducted with public sector authorities (authorities) and which forms part of the evidence base of the NAO’s report on Managing PFI assets and services as contracts end. This report provides information on how public authorities manage […]
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Investigation into the rescue of Carillion’s PFI hospital contracts
Published on:Carillion going into liquidation left two new hospitals unfinished. The projects will now be completed with public finance.
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PFI and PF2
Published on:A briefing on the rationale, costs and benefits of the Private Finance Initiative; the use of and impact of PFI, and ability to make savings from operational contracts; and the introduction of PF2. There are currently over 700 operational PFI and PF2 deals, with a capital value of around £60 billion and annual charges for these deals amounted to £10.3 billion in 2016-17. Even if no new deals are entered into, future charges which continue until the 2040s amount to £199 billion.
18 January 2018
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The Creation of the UK Infrastructure Bank
Published on:This report looks at the set-up of the UK infrastructure Bank, including HM Treasury’s planning before launch.
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Freedom of Information Publication Scheme:Our work and its outcomes
The NAO makes C&AG Reports on audited accounts, Value for money (VFM) reports and other outputs available to the public. Wherever possible it provides an easy method of accessing this information.
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Review of the VFM assessment process for PFI
Published on:The Treasury Committee asked the National Audit Office to undertake an analysis of the VFM assessment process and model for PFI. The assessment process combines a quantitative and qualitative approach to VFM appraisal. Our review focused, primarily, on the use of the financial model in the VFM assessment process and was submitted to the Treasury Committee as part of their inquiry into PF2.
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Equity investment in privately financed projects
Published on:Equity investors have helped to deliver many public sector infrastructure projects via the Private Finance Initiative and have managed them in ways from which the public sector can learn. Against a background of limited information, evidence gathered by the National Audit Office raises concern that the public sector is paying more than it should for equity investment.
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Investigation into the government’s handling of the collapse of Carillion
Published on:On 15 January 2018, Carillion declared insolvency and the Official Receiver, an employee of the Insolvency Service, started to liquidate its assets and contracts. This report focuses on the role of the UK government in preparing for and managing the liquidation of Carillion.
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Savings from operational PFI contracts
Published on:Progress on the Government’s initiative to achieve £1.5 billion worth of savings from operational PFI contracts.
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Procurement of the M25 private finance contract
Published on:The Highways Agency’s PFI contract to widen the M25 could have been better value for money. The slowness with which it was taken forward resulted in higher financing costs, and the Agency was slow to investigate a potentially cheaper alternative to widening.
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Private Finance Projects
Published on:This paper has been prepared for the House of Lords Economic Affairs Committee to support their inquiry on Private Finance.
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Private Finance Recommendations Database
Published on:Reports produced by the House of Commons’ Committee of Public Accounts (the PAC) following hearings based on our PFI and PPP investigations include nearly 1000 recommendations.
We have collected these recommendations and the related Treasury responses into a PFI and PPP/Privatisation Recommendations database last updated: 19/06/2009.
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Managing complex capital investment programmes utilising private finance
Published on:We have published this model to provide guidance to Departments on HMT’s and NAO’s expectations of how they should manage their programmes involving PPP and PFI projects.
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Lessons from PFI and other projects
Published on:Lessons from the large body of experience of using PFI can be applied to improve other forms of procurement. Government should also do more to act as an ‘intelligent customer’ in the procurement and management of projects.
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Financing PFI projects in the credit crisis and the Treasury’s response
Published on:By setting up an Infrastructure Financing Unit, Treasury helped reactivate the lending market for private finance projects. While the costs for projects in 2009 represented value for money, Treasury should not presume that continuing the use of private finance at current rates will be value for money.
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HM Revenue & Customs’ estate private finance deal eight years on
Published on:By transferring ownership or leases of around 60 per cent of its estate (591 properties) to a private contractor, Mapeley, in 2001, the Inland Revenue and HM Customs & Excise planned to reduce their running costs and had the opportunity to save up to £1.2 billion by reducing the size of the estate. However, in […]
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Performance of PFI Construction
Published on:This report examines how PFI performs to contracted timetable and to price.