There is nothing like being wise after the event. The Public Accounts Committee has
turned on the private finance initiative, saying there is ‘no clear evidence’ that PFI delivers more value for money and no evidence that taxpayers have shared the profits. The committee reported:
‘There were instances where PFI may have been used where there was no evidence that it was the best procurement route. Local authorities and health trusts used PFI because there was no
realistic alternative, not because it represented best value for money.The use of PFI and its alternatives should now be robustly evaluated. Looking back at PFI procurements, the government should also do more to find out where and why PFI works best and capture the lessons. Departments should also do more to ensure they get the best out of existing PFI contracts.’
That resounding critique chimes with independent findings.
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