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01 December 2011

Reform of the Private Finance Initiative

The Government is today launching a call for evidence on the reform of the Private Finance Initiative (PFI).   All interested parties are invited to respond to a call for evidence on the reform of PFI and to bring forward proposals for a new approach to using the private sector in the delivery of public assets and services.  In particular, feedback is sought from industry participants with an active role in the delivery and operation of public facilities; from those with an interest in investing in these projects; and from across the public sector, academics, think tanks, employees and wider stakeholders. 

Central to the development of new delivery models are the objectives of long term value for money for the taxpayer, more effective use of private sector innovation and skills, reducing costs, improving flexibility and increasing transparency.  The Treasury will also be looking to retain the benefits that successful PFI can deliver – in getting projects built to time and to budget and increasing the correct disciplines and incentives on the private sector to manage risk effectively.

The Government’s aim is to balance these objectives in a new approach to the delivery of public facilities that: 

Notes for Editors

  1. The Chancellor announced the Government’s intention to reform PFI on the 15 November 2011.
  2. The call for evidence document on the reform of the PFI can be found on the PFI reform: Call for evidence page. The document sets out suggested areas of focus for the call for evidence, but respondents are encouraged to submit responses on other areas that they consider important, including proposals for alternative delivery models.
  3. Responses to the call for evidence should use the response template available on the PFI reform: Call for evidence page and be emailed to PFIevidence@hmtreasury.gsi.gov.uk or sent to the PPP policy team, Room 2/S1, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ.  
  4. Responses to the call for evidence should be made by Friday 10 February 2012.  The Treasury will consider the evidence received and may, where appropriate, follow up on stakeholders ideas through further engagement to obtain further detail. 
    Non-media enquiries should be addressed to the Treasury Correspondence and Enquiry Unit on 020 7270 4558 or by e-mail to public.enquiries@hmtreasury.gsi.gov.uk

    This Press Release and other Treasury publications are available on the HM Treasury website. For the latest information from HM Treasury you can subscribe to our RSS feeds or email service.

    Media enquiries should be addressed to the Treasury Press Office on 020 7270 5238.

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