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  3. NAO Interactive Data Visualisation on PFI contract expiry – survey results

    Report Interactive visualisation

    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 […]

  6. PFI and PF2

    Report Value for money

    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

  7. PFI and PF2

    Press release

    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

  8. Oversight of three PFI waste projects

    Report Value for money

    Published on:

    All three projects examined by the NAO have experienced significant delays stemming from a range of problems.

  9. Review of the VFM assessment process for PFI

    Report Value for money

    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.

  10. Savings from operational PFI contracts

    Report Value for money

    Published on:

    Progress on the Government’s initiative to achieve £1.5 billion worth of savings from operational PFI contracts.

  11. Lessons from PFI and other projects

    Report Value for money

    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.

  12. Financing PFI projects in the credit crisis and the Treasury’s response

    Report Value for money

    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.

  13. PFI in housing

    Report Value for money

    Published on:

    The use of PFI by local authorities to improve housing, usually in areas with a high need for housing and where stock condition is particularly poor, has had a measure of success. However, risks to value for money of the programme have not been managed.

  14. The performance and management of hospital PFI contracts

    Report Value for money

    Published on:

    Most PFI hospital contracts are well-managed and the evidence indicates that they are currently achieving the value for money expected when the contracts were signed. There continue to be risks, however, to the long-term value for money of these contracts.

  15. Performance of PFI Construction

    Report Value for money

    Published on:

    This report examines how PFI performs to contracted timetable and to price.

  16. Department for Environment, Food and Rural Affairs: Managing the waste PFI programme

    Report Value for money

    Published on:

    The Department for Environment, Food and Rural Affairs has recently made considerable progress in increasing the number and size of local authority projects to procure new waste treatment facilities under the Private Finance Initiative (PFI). But, according to a National Audit Office report today, the Department was initially too slow to respond to the 1999 […]

  17. Allocation and management of risk in Ministry of Defence PFI projects

    Report Value for money

    Published on:

    Most Ministry of Defence projects funded by PFI deals are delivered satisfactorily, on time and on budget. In six of the eight projects examined by the NAO, the Department has generally achieved value for money through effective allocation and management of risks. Failures to identify and manage risks reduced the value for money achieved from […]